Sunday, 1 November 2020

Mixed month

The precious metals of Gold and Silver saw net October changes of -$15.60 (0.8%) to $1879.90, and +$0.15 (0.6%) to $23.65 respectively. The mid term trend in gold remains bullish, with silver battling to hold above old resistance - now new support, of the 21/20s.


Gold, monthly1b

 


Silver, monthly1b

 

Summary

Gold: lower for a third consecutive month, printing a low of $1859.20. The July break above giant psy'2K offers a grander target of the 2400/500 zone, which still appears realistic in Q1 2021.

Silver: a month of chop, printing a low of $22.62, but settling moderately higher. Old resistance of the 21/20s, will now act as new core support. M/t bullish, with next target of 35/37, which appears realistic in Q1 2021.
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With silver having broken above the decisive $22s this summer, the bold will now be leaning toward Silver, which should outperform gold into and across 2021.

Wednesday, 30 September 2020

Rough September for Gold & Silver

The precious metals of Gold and Silver saw net September declines of -$83.10 (4.2%) to $1895.50, and -$5.10 (17.8%) to $23.49 respectively. Despite a rough month, the long term trend in gold remains bullish, with silver battling to hold above old resistance - now new support, of the 21/20s.


Gold, monthly3

 


Silver, monthly3

 


Summary

Gold: lower for a second consecutive month, printing a low of $1851.00. The July break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic in Q1 2021.

Silver: a very severe net monthly decline, printing a low of $21.81. Old resistance of the 21/20s, will now act as new core support. M/t bullish, with next target of 35/37, which appears probably in Q1 2021.
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With silver having broken above the decisive $22s this summer, the bold will now be leaning toward Silver, which should outperform gold into and across 2021.

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.