Bearish engulfing candles played out

The precious metals of Gold and Silver saw net April declines of -$45.60 (1.0%) to $4628.92, and -$0.88 (1.2%) to $74.16 respectively. 

Gold, monthly1b

 

Silver, monthly1b 

 

Summary

Gold: swinging from a high of $4891, and settling at $4628. The bearish engulfing March candle played out. Momentum weakened for a second month. 
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Silver: swinging from a high of $83.04, and settling at $74.16. The bearish engulfing March candle played out.  Momentum weakened for a second month.
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The gold-silver ratio settled April at 62.42. I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 

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With Bitcoin (as at April 30th) $76K, the gold-bitcoin ratio climbed upward to 16.49.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio. 

For more of the same... > https://www.tradingsunset.com

Bearish engulfing candles

The precious metals of Gold and Silver saw net March declines of -$601.56 (11.4%) to $4676.45, and -$18.43 (19.6%) to $75.39 respectively. 

Gold, monthly1b

Silver, monthly1b 

Summary

Gold: swinging from a high of $5419 to $4098, and settling at $4676. The March candle is bearish engulfing. Momentum rolled over.
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Silver: swinging from a low of $96.38 to $60.94, and settling at $75.39. The March candle is bearish engulfing. Momentum rolled over.
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The gold-silver ratio settled March at 62.03. I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 

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With Bitcoin (as at March 31) $67K, the gold-bitcoin ratio climbed back upward to 14.55.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio. 

For more of the same... > https://www.tradingsunset.com

 

A net positive February

The precious metals of Gold and Silver saw net February gains of +$390.98 (8.0%) to $5278.05, and +$9.18 (10.8%) to $93.82 respectively. 

Gold, monthly1b

 

 Silver, monthly1b 

 

Summary

Gold: swinging from a low of $4404 to $5280, and settling at $5278. Price momentum ticked upward, and remains on the extremely high side. I would note the monthly 10MA at $3989, which was settled above, as the l/t trend remains bullish. 

6K appears an easy target, with 7/8K viable before year end. 
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Silver: swinging from a low of $63.99 to $94.17, and settling at $93.82. Momentum continued to tick upward, and is on the very high side. I would note the monthly 10MA at $54.64, which was settled above, as the l/t trend remains bullish. 

The February candle is bullish engulfing, and bodes distinctly s/t bullish. 

L/t bullish, as $150 appears probable on the next up wave, with $200 viable before year end.
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The gold-silver ratio settled February at 56.26, the lowest since April 2013.
I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 

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With Bitcoin (as at February 28th) $65K, the gold-bitcoin ratio declined to 12.49, the lowest since March 2023.  

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio. 

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For more of the same... > https://www.tradingsunset.com