Saturday, 1 May 2021

Gold/Silver catch a bounce

The precious metals of Gold and Silver saw net April gains of +$52.10 (3.0%) to $1767.70, and +$1.34 (5.5%) to $25.87 respectively. Gold remains m/t bearish, whilst silver is borderline.

 
Gold, monthly1b 


Silver, monthly1b

 


Summary

Gold: Gold printed $1798.40, but cooled into end month, settling in the $1767s. Price momentum continued to tick lower, and is negative for a third month. For now, there is no clear sign we have a mid term floor from the $1673s. I would note the monthly 10MA at $1847.83.

Silver: A significant net monthly gain of +5.5%. Monthly momentum ticked lower for a third month, but remains moderately positive. I would note the monthly 10MA at $25.27, which silver did manage to settle above. The situation is somewhat 'borderline'. Things turn interesting with a break AND hold above psy' $30.00.

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The trio of copper, gold, and silver 'broadly' trade together across the years. Copper remains indirectly supportive to the notion that Silver will eventually catch up, and reach next major resistance of the 35/37 zone.

Wednesday, 31 March 2021

Gold/Silver still broadly falling

The precious metals of Gold and Silver saw net March declines of -$13.20 (0.8%) to $1715.60, and -$1.91 (7.2%) to $24.53 respectively. Gold remains m/t bearish, whilst silver is borderline.

 
Gold, monthly1b 

 


Silver, monthly1b

 


 

Summary

Gold: Gold printed $1673.30, the lowest since June 2020. Price momentum ticked lower, and is negative for a second month. There is simply zero sign of a short or mid term floor. I would note the monthly 10MA at $1851.11.

Silver: A second consecutive net monthly decline, printing a low of $23.74. Monthly momentum ticked lower, but remains moderately positive. With the monthly 10MA at $24.55, silver settled 2cents below this rather key MA. The situation is 'borderline'. Copper remains indirectly supportive to the notion that Silver will eventually push to next major resistance of the 35/37 zone.
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Perhaps the most incredible thing is...

 

 

The Gold:Bitcoin ratio stands at 34.34. Its truly bizarre that a cryptographic string is now worth   34oz of gold. We are indeed so very deep in... the twilight zone.

Saturday, 30 January 2021

Mixed start for gold and silver

The precious metals of Gold and Silver saw net January changes of -$44.80 (2.4%) to $1850.30, and +$0.50 (1.9%) to $26.91 respectively. The mid term trend in gold and silver remains bullish, with both metals sporting price structure of a multi-month bull flag.

Gold, monthly1b


Silver, monthly1b

Summary

Gold: Gold printed $1962.50, but cooled back to settle the month $1850.30, just fractionally below the monthly 10MA. For now, price structure is still a valid bull flag. The July 2020 break above psy' $2K offers a grander target of the 2400/500 zone, which appears realistic as early as late summer.

Silver: A second consecutive net monthly gain, with a January high of $28.10. Soft target is the Aug'2020 high of $29.92. Any price action >psy'30 would be decisive, and offer a fast run to the 35/37 zone, which appears realistic as early as April/May.
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The Gold-Silver ratio stands at 68.75. Grand target are the 32s, which looks feasible before end 2021.