Tuesday, 31 December 2019

Gold and Silver settle 2019

The precious metals of Gold and Silver saw net December gains of +$50.40 (3.4%) to $1523.10, and +$0.81 (4.8%) to $17.92 respectively. For the year, Gold and Silver saw net gains of +18.9% and +15.3% respectively.


Gold monthly1b



Silver monthly 1b



Summary

Gold: significant gains to conclude the year, with a provisional confirmation of the bull flag.

Silver: a strong end to the year, with a provisional confirmation of multi-month price structure of a bull flag.


The outlook and targets

Soft target for Gold is the Sept' high of the $1566s, and then onward to the 1650/1750 zone. A challenge of the Sept'2011 historic high of $1923.70, is clearly viable by late 2020.

Big target for Silver is the 2016 high of $21.23. Any price action >22.00 would be decisive, and have monstrous bullish implications on a mid/long term basis.
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A couple of miscell' videos...



And...




Good wishes for 2020, and indeed... the decade ahead.

Friday, 29 November 2019

The big bull flag

The precious metals of Gold and Silver saw net November declines of $42.10 (2.8%) to $1472.70, and $0.96 (5.3%) to $17.11 respectively. The m/t trend remains bullish, with multi-month price structure of a bull flag.


Gold, monthly1b



Silver, monthly1b



Summary

Gold: the second net monthly decline of three. Price structure is a bull flag, and would be fully confirmed with a break above the Sept' high of $1566.20. New historic highs look very viable in second half of 2020.

Silver: the second net monthly decline of three. Price structure is a pretty clean bull flag, and will be provisionally confirmed with a break above the Sept' high of $19.75. Big target is the 2016 high of $21.23. Any price action >22.00 in 2020 would be exceptionally bullish for the mid term.
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Related miner implications: If the bull flags do play out in Gold and Silver, the implications for the related mining stocks should be clear.

Thursday, 31 October 2019

Precious metals resume upward

The precious metals of Gold and Silver saw net October gains of $41.90 (2.8%) to $1540.80, and $1.07 (6.3%) to $18.07 respectively. The m/t trend remains bullish, as Gold $1600s and Silver $20/21s are still within range before year end.


Gold, monthly1b



Silver, monthly1b



Summary

Gold: A very significant net monthly gain, with multi-month price structure of a bull flag. New multi-year highs (>1566) aren't a stretch before year end. A cooler USD would certainly help. The fact QE4 has begun will also help. New historic highs are very much on the menu in 2020.

Silver: A powerful net monthly gain, with multi-month price structure of a bull flag. Big target is key price threshold of $21s, with the 2016 high of $21.23. Eventual price action >22s will have far grander implications.

... and if Gold and Silver continue to broadly climb into/across 2020, the implications for the related mining stocks should be obvious.
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Gold : Silver ratio


The Gold:Silver ratio stands at 83.84. Broader cooling to the 67/66s is arguably a pretty conservative target for 2020.

Monday, 30 September 2019

Very mixed month

The precious metals of Gold and Silver saw powerful net September declines of $56.50 (3.7%) to $1472.90, and $1.34 (7.3%) to $17.00 respectively. The m/t trend remains bullish, as Gold $1800s and Silver $21s are still within range before year end.


Gold, monthly1b



Silver, monthly1b



Summary

Gold: seeing a new cycle high of $1566.22, but settling in the $1472s. Monthly price momentum has levelled out, but remains strongly positive. Only bearish if the breakout zone of 1400/1370s is traded and held under.

Silver: a new cycle high of $19.75, but settling at $17.00. Monthly price momentum remains moderately positive. Still broadly choppy. Things only turn decisively m/t bullish with the >22s.


Gold-Silver ratio


Whilst the ratio ticked back upward in September, the June high of 94.06 looks secure. I'm expecting a renewed decline to the 67/66s, as Silver can be expected to play catchup to Gold.