Friday, 18 May 2018

Bearish metals

The precious metals of Gold and Silver saw net weekly declines, -$29.40 (2.2%) to $1291.30, and -$0.30 (1.8%) to $16.45 respectively. Near term outlook is highly uncertain, and will be greatly dependent upon the USD and bond yields.


Gold weekly


Silver weekly



Summary

Suffice to add, gold remains stronger than silver, but both metals are lagging the broader commodity complex.

Ongoing s/t strength in the USD and higher bond yields is really keeping the downward pressure on gold, and to a slightly less degree... silver.

Technically, gold and silver both avoided a weekly close under key rising trend. The next few weeks are going to be rather important!

Friday, 11 May 2018

Weekly gains

The precious metals of Gold and Silver saw net weekly gains, +$6.00 (0.5%) to $1320.70, and +$0.23 (1.4%) to $16.75 respectively. Near term outlook offers further upside. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold weekly



Silver weekly



Summary

Gold remains broadly stronger than Silver, but both metals are m/t choppy since early 2017, especially relative to the broader commodity complex.

Partly based on m/t bullish trends in copper and oil, I'm still leaning toward an eventual bullish breakout in Gold. For now, there is ZERO sign of that.

Monday, 30 April 2018

Broadly churning

The precious metals of Gold and Silver were moderately mixed in March, settling -$8.10 (0.6%) to $1319.20, and +$0.13 (0.8%) to $16.40 respectively. Near term outlook offers further chop. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold monthly



Silver monthly



Summary

There is little to add, as the precious metals continue to broadly churn since early 2017. Gold remains notably stronger than Silver.

Best guess: an eventual upside break in Gold... with Silver to follow, as partly based on m/t bullish trends in WTIC and copper. For the moment though, gold is showing zero sign* of a breakout, partly pressured by a recently strengthening USD.

*implications for the related miners. 

Friday, 20 April 2018

Mixed metals

The precious metals of Gold and Silver were rather mixed this week, settling -$9.60 (0.7%) to $1338.30, and +$0.50 (3.0%) to $17.16 respectively. Near term outlook offers broader upside. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold weekly



Silver weekly



Summary

Suffice to add, the metals were rather mixed this week. Unusually, Silver is outperforming gold, although across the last year or so, its still massively lagging.
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Copper, Gold, Silver, 10yr, monthly


The trio of metals do broadly trade together across the years. Since late 2015, Copper and Gold are performing far better than Silver. This past week's sig' gain in Silver could well be the start of a major bullish run. Keep in mind, the broader commodity complex is climbing. I'd refer anyone to the following CRB chart...



Soft target for the CRB remains the 220/30 zone. If correct, bullish implications for the metals (and related mining stocks), at least to some degree.