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.

Thursday, 1 November 2018

Gold net higher

The precious metals of Gold and Silver saw net October changes of +$18.80 (1.6%) to $1215, and -$0.43 (2,9%) to $14.28 respectively. Mid term outlook offers further downside, as US rates are still regularly being raised, which should help to maintain a broadly strong USD.


Gold monthly1b



Silver monthly1b



Summary

Suffice to add... a net October gain for Gold, but that sure doesn't break the m/t bearish trend. Silver was weak, clearly pressured via the broadly strong USD in the DXY 96s.

Friday, 28 September 2018

Gold lower for a sixth month

The precious metals of Gold and Silver saw net September changes of -$10.50 (0.9%) to $1196.20, and +$0.15 (1.1%) to $14.71 respectively. Mid term outlook offers further downside, as US rates are regularly being raised, which should help to maintain a broadly strong USD.


Gold monthly1b



Silver monthly1b



Summary

Suffice to add, it was a mixed month for the precious metals, with Gold seeing a sixth consecutive net monthly decline, whilst Silver saw a bounce.

By definition, every US rate hike is bearish for gold and silver, as it raises the carrying costs. The USD is a key variable of course, and its notable that gold still fell in September, despite a slightly weaker dollar.

As things are, another rate hike will be due Dec'19th, with another 3-4 in 2019. Further, the USD could be expected to remain broadly strong, certainly holding above the key DXY 88s.
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*m/t bearish implications for the related gold miners.