Tuesday, 30 November 2021

Bearish November

The precious metals of Gold and Silver saw net November declines of -$7.40 (1.5%) to $1776.50, and -$1.13 (4.7%) to $22.82 respectively.

Gold, monthly1b 

Silver, monthly1b

Summary

Gold: printing $1879.50, but cooling back into end month, settling in the $1776s. Price momentum is flat-lining, remaining on the moderately low side. The November candle doesn't offer a short/mid term floor. I would note the monthly 10MA at $1784. For bullish confidence, gold bugs need to see a monthly settlement >$1850, which looks feasible in December.

Silver: printing $25.49, but cooling back to $22.82 Momentum ticked lower for a sixth consecutive month, and is on the moderately negative side. I would note the monthly 10MA at $24.94, which silver settled below. Price action has been a broad chop fest since August 2020. Things turn decisive for the silver bulls, with a break AND hold above $25.50.

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Friday, 29 October 2021

Gold and Silver rebound

The precious metals of Gold and Silver saw net October gains of +$26.90 (1.5%) to $1783.90, and +$1.90 (8.6%) to $23.95 respectively.

Gold, monthly1b 

Silver, monthly1b

 

 

Summary

Gold: printing $1815.50, but cooling back into end month, settling in the $1783s. Price momentum ticked lower, and hasn't been this negative since early 2014. The October candle doesn't offer a short/mid term floor. I would note the monthly 10MA at $1791. For bullish confidence, gold bugs need to see a monthly settlement >$1850.

Silver: printing $24.92, if cooling back to $23.95 Momentum ticked lower for a fifth month, and is on the moderately negative side. I would note the monthly 10MA at $25.35, which silver settled below. Price action has been a chop fest since August 2020. Things turn decisive for the silver bulls, with a break AND hold above $26.00.

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Thursday, 30 September 2021

Rough September

The precious metals of Gold and Silver saw net September declines of -$61.10 (3.4%) to $1757.00, and -$1.96 (8.2%) to $22.05 respectively.

Gold, monthly1b 

Silver, monthly1b

 


Summary

Gold: printing $1836.90, but cooling back into end month, settling in the $1757s. Price momentum ticked lower, and hasn't been this negative since early 2014. The September candle doesn't offer a short/mid term floor. I would note the monthly 10MA at $1802. For bullish confidence, gold bugs need to see a monthly settlement >$1850.

Silver: A fourth consecutive net monthly decline. Momentum ticked lower for a fourth month, and is on the moderately negative side. I would note the monthly 10MA at $25.60, which silver settled decisively below. Price action has been a m/t chop fest since August 2020. Things turn decisive for the silver bulls, with a break AND hold above psy' $30.00.

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