Gold settles above 3K

The precious metals of Gold and Silver saw net March gains of +$267.31 (9.4%) to $3124.22, and +$2.89 (9.3%) to $34.02 respectively.

Gold, monthly1b

Silver, monthly1b 

Summary

Gold: printing a new historic high of $3126.84, if cooling back to settle in the $3124s. Price momentum ticked back upward, and is on the high side. I would note the monthly 10MA at $2671, which was settled above, as the m/t trend remains bullish. 

Having achieved a break AND hold above giant psy' $3K, next resistance is arguably 3500/3750 zone, as looks realistic by mid year.
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Silver: printing $34.58, but cooling back to settle at $34.02. Momentum ticked back upward, and remains on the moderately high side. I would note the monthly 10MA at $30.69, which was settled above, as the m/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is far outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
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The gold-silver ratio increased to 91.83, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
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With Bitcoin settling the month around $82K, the Gold-Bitcoin ratio has fallen, settling March at 26.35. It remains a curious thought to realise that it still takes twenty six 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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Gold still broadly climbing

The precious metals of Gold and Silver saw net February changes of +$13.50 (0.5%) to $2848.50, and -$0.77 (2.4%) to $31.50 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new historic high of $2974.00, if cooling back to settle in the $2848s. Price momentum ticked a little lower, if remaining on the high side. I would note the monthly 10MA at $2610, which was settled above, as the m/t trend remains bullish. 

Giant psy' $3K is clearly viable within March. Lower bond yields and a weaker dollar would help, but aren't a necessity.
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Silver: printing $34.24, but cooling back to settle at $31.50. Momentum weakened a little, if remaining on the moderately high side. I would note the monthly 10MA at $30.64, which was settled above, as the s/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is far outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
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The gold-silver ratio increased to 90.44, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin cooling back to $84K, the Gold-Bitcoin ratio has fallen, settling February at 29.66. It remains a curious thought to realise that it takes almost thirty 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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Gold nearing $3000

The precious metals of Gold and Silver saw net January gains of +$194.00 (7.3%) to $2835.00, and +$3.02 (10.3%) to $32.26 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new historic high of $2862.90, if cooling back to settle in the $2835s. Price momentum ticked back upward, and remains on the high side. I would note the monthly 10MA at $2555, which was settled above, as the m/t trend remains bullish. 

Giant psy' $3K is clearly viable within February, if more realistic in March. Lower bond yields and a weaker dollar would help, but aren't a necessity.
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Silver: printing $32.92, but cooling back to settle at $32.26. Momentum is flat-lining on the moderately high side. I would note the monthly 10MA at $30.16, which was settled back above, as the s/t trend is back to bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is still outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
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The gold-silver ratio stands at 87.87, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin recently printing a new historic high of $109340, the gold-Bitcoin ratio broke a new historic high, settling January at 36.12. Its a curious thought to realise that it takes a little more than 36x 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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