Friday, 8 December 2017

A third week lower

It was a third week lower for the precious metals of Gold and Silver, with net weekly declines of -$33.90 (2.6%) to $1248.40, and -$0.57 (3.4%) to $15.82 respectively. Near term outlook offers further weakness, not least if the USD continues to climb across the latter half of December.


Gold weekly



Silver weekly



Summary

A third week lower, as the s/t bearish trend from mid November continues. Silver is leading the way lower, and technically.. its becoming outright ugly.

Gold has broken the upward trend from Dec'2016. The last remaining support is rising trend from the multi-year low of Dec'2015.

Lets be clear... Silver broke this summer, has has failed to recover. Gold is following. If Gold sees a monthly close <$1200, whether Dec'2017 (unlikely), or a more viable January, it would bode EXTREMELY bearish, and offer a new multi-month down wave. 

Under $1200, its mostly empty air to the Dec'2015 low of $1045.40.

If we do see a break, horrific implications for the related mining stocks, whether large, mid, or small cap'.

Friday, 1 December 2017

Weak metals

It was a week of weakness for the precious metals of Gold and Silver, with net weekly declines of -$5.00 (0.4%) to $1282.30, and -$0.60 (3.5%) to $16.39 respectively. Near term outlook offers further weakness, not least if the USD has even a moderate bounce across December.


Gold weekly



Silver weekly



Summary

Suffice to add... gold is still broadly choppy. Silver has seen a rather decisive bearish break lower. That sure doesn't bode well for Gold in the immediate term. Further, copper saw a net weekly decline of -2.4%.

S/t bearish... not least in Silver and Copper.

... implications for the related mining stocks.

Friday, 24 November 2017

Choppy metals

It was a week of chop for the precious metals of Gold and Silver, with net weekly declines of -$9.20 (0.7%) to $1287.30, and -$0.38 (2.2%) to $16.99 respectively. Near term outlook offers further weakness, not least if the USD has even a moderate bounce into early December.


Gold weekly



Silver weekly



Summary

Nothing to add from recent weeks.

Friday, 17 November 2017

Metals battling upward

It was a bullish week for the precious metals of Gold and Silver, with net weekly gains of +$22.30 (1.7%) to $1296.50, and +$0.50 (3.0%) to $17.37 respectively. Near term outlook offers further upside, not least if the USD stays below the DXY 95.00 threshold.


Gold weekly



Silver weekly



Summary

Suffice to add... nothing has changed.

I hold to the notion that 'Mr inflation is lurking'. Copper saw a key Aug' close >$3.00, confirmed in Oct'.


Copper, gold, silver - monthly, 10yr



The trio of metals do broadly trade together on a multi-year basis. If you believe copper will continue to claw upward into, and across much of 2018, then gold and silver should be expected to follow to some extent.

*if correct, bullish implications for the related mining stocks.