Friday, 17 February 2017

Eight weeks up for Silver

The precious metals remain broadly strong, with net weekly gains for Gold and Silver of 0.1% and 0.2% respectively. Most notable, Silver was higher for an eighth consecutive week, the best run since Oct'2010... back when Silver was in the $25s.


GLD, weekly



SLV, weekly



Summary

Suffice to add.. the precious metals remain broadly strong, which is impressive, as so does the King of FIAT land... the USD.

Near term outlook does threaten a touch of cooling - as we're already seeing in the related Gold/Silver miners. However, mid/long term outlook is bullish.

Things turn hyper bullish with any price action for Gold in the $1400s.. and Silver in the $22s.

Friday, 10 February 2017

Net weekly gains

The precious metals saw a rather bullish week, with Gold and Silver seeing net weekly gains of 1.2% and 2.7% respectively. Notably, Silver climbed for a seventh consecutive week, the best run since Oct'2012. Near term outlook is a little uncertain, as a short term retrace is overdue.


GLD, weekly



SLV, weekly



Summary

Short term... we're approaching resistance of the upper weekly bollinger.

Mid term outlook for the precious metals is arguably bullish. I should note, I'm still not fully confident to say anything about the longer term. I really want to see Gold $1400s and Silver in the $22s to have 100% bullish clarity that the Dec'2015 lows won't be broken.

To be clear, my best guess though... the Dec'2015 lows are a key multi-year floor, with Dec'2016 marking a very important higher low.

Things turn real bullish with GLD >132, and SLV >20.

Friday, 3 February 2017

Metals still broadly strong

It was a rather bullish week for the precious metals, with Gold and Silver seeing net weekly gains of 2.3% and 2.2% respectively. Near/mid term outlook is bullish, unless the Dec'2016 lows are broken under.


GLD, weekly



SLV, weekly



Summary

Suffice to add... a key low in Dec'2015, with a significantly higher low in Dec'2016. Now its a case of attaining a key higher high in the $1400s this summer/autumn.

Tuesday, 31 January 2017

A bullish January for the metals

With a weakening USD, the month ended on a positive note for the precious metals, with Gold and Silver higher by 1.4% and 2.5% respectively. Across the month, Gold and Silver saw net monthly gains of $59.70 (5.2%) to $1211.40, and $1.55 (9.7%) to $17.54 respectively. Near/mid term outlook is bullish unless the Dec'2016 lows are broken.


Gold, monthly



Silver, monthly



Summary

We have a key multi-year floor in Dec'2015. The Dec'2016 low now makes for the first key higher low.

Now its a case of whether Gold and Silver can break the summer 2016 highs. If that is done, it will absolutely cement the 2015 core low, and the 2016 higher low.


Lets be clear....

If we see Gold $1400s and Silver in the $22s, it will give high confidence that the next giant multi-year up wave is already well underway.

A monthly close for Gold in the $1400s will offer a test of the 2011 high of $1923.70... although that does seem well out of range this year.

Any monthly close for Silver in the $22s will offer further upside to at least the $30s by late 2017/spring 2018. That is of course though, still well below the bubble peak of $49.82 in April 2011.

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The near/mid term bullish outlook will only be negated if Gold/Silver break the Dec'2016 lows.

Yours truly is now looking to get involved in the metals/miners trade.