Friday 31 March 2017

Net monthly declines

It was a moderately bearish month for the precious metals, with Gold -$2.70 (0.2%) to $1251.20, and Silver -$0.21 (1.1%) to $18.26. Mid term bullish trend from the Dec'2015 lows remains comfortably intact. Outlook is bullish.


Gold, monthly



Silver, monthly



Summary

So, January and Feb' saw rather significant gains for Gold and Silver, but March saw the upward trend stall. The settling monthly candles were a little spiky on the lower end, slightly indicative that recent weakness has concluded.

I'm seeking the summer 2016 highs to be taken out. To be decisive, gold bugs should be seeking Gold $1400s, Silver $22s, and Copper >$3.00.

... if those thresholds are seen, the implications for the related mining stocks into end 2017/early 2018 are profound.