Wednesday, 31 January 2018

Bullish start to the year

The precious metals of Gold and Silver are back on the rise, with net weekly gains of $33.80 (2.6%) to $1343.10, and $0.10 (0.6%) to $17.24 respectively. Near term outlook is bullish. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.

Gold monthly

Silver monthly


A third month higher for gold, and a second month higher for silver.

The key threshold for Gold is clearly $1400. If that can be broken above, its a fast run to psy' $1500, with a grander outlook of the $1900s, which would seem viable by spring 2019.

Silver is still greatly lagging gold. The declining trend will be around the $17.70s in February. So, the $18s would be decisive, and offer a challenge of the key $22 threshold by early summer.

Based on Copper and WTIC - both of which are mid term bullish, I have to see Gold and Silver eventually catch up this year. If correct, very bullish implications for the related gold/silver mining stocks.