Friday 29 January 2016

Significant net monthly gains

With significant upset across world capital markets, the precious metals attracted some degree of a 'fear bid'. Gold and Silver saw net monthly gains of $55.90 (5.3%) @ $1116.40, and $0.42 (3.0%) @ $14.24 respectively. Near term outlook offers further upside, but the notion that a multi-year floor is now in, still seems flawed.

Gold, monthly2

Silver, monthly2


Suffice to add... yes, sig' monthly gains, but broadly.. the downward trend from 2011 is still intact.

There remain severe deflationary pressures for all commodities, not least as the USD is still vulnerable to attaining a monthly close above the DXY 100 threshold this spring.

For now.. the broader trend remains unquestionably bearish.

Friday 22 January 2016

Mediocre performance

Relative to the capital market upset this week, the precious metals really struggled. Gold is usually prime to catch a 'fear bid' on any market upset, but only brief significant this week. Gold and Silver saw net weekly gains of 0.9% and 1.1% respectively. The broader trend remains outright bearish.

GLD, weekly

SLV, weekly


Suffice to add... an bsolutely mediocre performance for Gold and Silver.

Despite the Dow being -500pts on Wednesday, Gold caught a fear bid of around $15, but naturally, as equities rebounded into the weekend, that gain largely melted away.

Price structure on the bigger weekly charts is yet another bear flag. That may take some weeks to complete, before further weakness in the spring/summer.

*if correct, the related mining stocks will remain under pressure, regardless of any up waves in the broader equity market.

Friday 15 January 2016

Precious metals remain relatively weak

Considering the continuing upset in global equity/capital markets, the precious metals were relatively weak, with net weekly declines of -1.5% and -0.4% respectively. The metals are catching a fear-bid, but the gains are minor, and will not endure.

GLD, weekly

SLV, weekly


Considering the ongoing equity declines, the precious metals sure are struggling.

The underlying issue remains one of continuing global commodity carnage, and gold/silver are absolutely also in a state of over-supply.

Broader outlook remains unchanged.. seeking Gold $1000, and eventually, the 900/875 zone.

*if correct, the related mining stocks will continue to decline, regardless of any short or long term equity rebound.

Friday 8 January 2016

Net weekly gains

With US equities severely lower, the precious metals caught a fear-bid this week. Gold and Silver saw net weekly gains of 4.1% and 0.8% respectively. Near term outlook remains moderately bullish, but broadly, Gold still looks set for the $1000 threshold.

GLD, weekly

SLV, weekly


Suffice to add, despite some gains, the broader outlook remains bearish.

USD remains king of FIAT land, and commodities remain under strong deflationary pressures, as the world economy is facing a multitude of increasingly serious problems.