Friday, 31 July 2020

Gold breaks above $2000

The precious metals of Gold and Silver saw net July gains of +$185.40 (10.3%) to $1985.90, and +$5.58 (29.9%) to $24.22 respectively. The long term trend in gold remains bullish, with silver finally breaking up and away.


Gold, monthly1b


Silver, monthly1b



Summary

Gold: the seventh monthly gain of eight, breaking a new historic high of $2005.40. The break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic before year end.

Silver: a fourth consecutive net monthly gain, notably breaking above the 2016 high of $21.23, and printing $26.27 - the highest since April 2013. The move above the decisive $22s, offers a basic target of psy'30.
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With silver breaking above the decisive $22s, the bold will now be leaning to Silver.

Tuesday, 30 June 2020

Gold settles strongly

The precious metals of Gold and Silver saw net June gains of +$48.80 (2.8%) to $1800.50, and +$0.14 (0.7%) to $18.64 respectively. The m/t trend in gold remains bullish, with silver still broadly lagging.


Gold, monthly1b


Silver, monthly1b



Summary

Gold: the sixth monthly gain of seven, printing $1804.00, the highest level since Nov'2011. New historic highs above the Sept'2011 high of $1923.70 appear a given before year end. Any price action >2K should see very significant mainstream bullish chasing, with a grander target of the 2400/500 zone.

Silver: a third consecutive net monthly gain, printing $18.95. Big target remains the 2016 high of $21.23. Things turn decisive >22.00, which would offer a basic target of psy'30.
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For now, the more cautious will lean to gold, as silver is still broadly stuck. In any case, m/t bullish implications for the related miners.

Saturday, 30 May 2020

Strong gold and silver

The precious metals of Gold and Silver saw net May gains of +$57.50 (3.4%) to $1751.70, and +$3.53 (23.5%) to $18.50 respectively. The m/t trend in gold remains bullish, with silver playing catch-up to gold.


Gold, monthly1b


Silver, monthly1b




Summary

Gold: the fifth monthly gain of six. Whilst the May candle didn't surpass the April high, the m/t trend is unquestionably bullish. The broadly strong USD remains a restraint on Gold. M/t bullish, as new historic highs appear probable late summer/autumn.

Silver: A second consecutive net monthly gain, but broader price action remains a mess. Big target remains the 2016 high of $21.23. Any price action >22.00 would be decisive, and offer a grander push to eventually challenge the 2011 historic high of $49.82.
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Gold/Silver ratio


The G/S ratio stands at 94.69, having cooled from the 113s. Silver is playing catch up to gold. In theory, the natural target would be the 67/66s. Its important to note that sure doesn't mean gold will be net lower. Quite the contrary, I am absolutely mid/long term bullish gold, but its likely that in terms of % gains, silver will outperform.

Thursday, 30 April 2020

Gold broadly strong

The precious metals of Gold and Silver saw net April gains of +$97.60 (6.1%) to $1694.20, and +$0.82 (5.8%) to $14.97 respectively. S/t vulnerable, but the m/t trend remains bullish, with gold having printed an eight year high of $1788.80.


Gold, monthly1b


Silver, monthly1b


Summary

Gold: the 4th monthly gain of five, printing a high of $1788.80, the highest since Oct'2021. The April candle is rather spiky, and threatens s/t bullish exhaustion. The broadly strong USD remains a restraint on Gold. M/t bullish, as new historic highs appear probable later this year.

Silver: A net monthly gain, but broader price action remains a mess. The April candle is spiky, and leans s/t bearish.

Ongoing price action is a reminder that Gold remains superior to Silver, not least in terms of holding a 'fear bid'. Further capital market unrest could be expected to see that split widen.