Tuesday, 30 April 2019

A third month of cooling

The precious metals of Gold and Silver both cooled for a third consecutive month, with net April declines of -$12.80 (1.0%) to $1285.70, and -$0.13 (0.8%) to $14.98 respectively.

Gold, monthly1b


Silver, monthly1b


Summary

A third consecutive net monthly decline for the precious metals of gold and silver.

The weakness from the Jan' high is arguably largely due to two factors. First, the broadly strong USD. Second, the recovery in confidence with the capital markets, helped by an increasingly dovish fed.

I do anticipate eventual rate cuts - which would be inherently bullish gold/silver, but I don't see such cuts until after the QT program has concluded end Sept'.

The more cautious gold/silver bulls will wait to chase with Gold >$1400s and Silver >$21s.

Thursday, 28 February 2019

Mixed month for the metals

The precious metals of Gold and Silver saw net February declines of -$9.10 (0.7%) to $1316.0, and -$0.44 (2.7%) to $15.63 respectively.


Gold monthly1b



Silver monthly1b



Summary

Gold: the February intra high of $1349.80, was the highest level since April 2018. Price momentum is back to positive for the first time since May 2018. Things will turn decisively (and wildly) bullish >1400.

Silver: despite settling sig' lower for the month, macd (blue bar histogram) cycle has turned positive for the first time since Jan'2018. Broadly... Silver is just churning.

Thursday, 31 January 2019

Gold climbs for a fourth month

The precious metals of Gold and Silver saw net January gains of +$43.90 (3.4%) to $1325.20, and +$0.53 (3.4%) to $16.07 respectively. The outlook into the spring is bullish.


Gold monthly1b



Silver monthly1b



Summary

Gold: a fourth consecutive net monthly gain. MACD (blue bar histogram) is set to turn positive at the Feb'1st open, which would be the first time since May 2018. There is a great deal of price cluster resistance in the 1360/70s. Things turn decisive >1400.

Silver: a second consecutive net monthly gain. MACD (blue bar histogram) is set to turn positive at the Feb'1st open. Soft target is the 2018 high of $17.36. Things turn decisive above the 2016 high of $21.23.
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As ever... implications for the related gold/silver mining stocks. 

Monday, 31 December 2018

Gold and Silver settle 2018

The precious metals of Gold and Silver saw net December gains of +$55.30 (4.5%) to $1281.30, and +$1.32 (9.3%) to $15.54 respectively. For the year, Gold and Silver saw net declines of -2.1% and -9.4% respectively.


Gold monthly



Silver monthly



Summary

Gold: a third consecutive net monthly gain. MACD (blue bar histogram) cycle ticked upward. At the current rate, price momentum should turn outright positive by late January/early February. Things only turn decisively bullish >1400. If seen, it'd offer an eventual challenge of the Sept'2011 historic high of $1923.70.

Silver: a very powerful net monthly gain of 9.3%, although broadly.. Silver is struggling with most other commodities. Things only turn decisively bullish above psy' $20.00, and that is around 33% higher.