Gold and Silver climbed across February

It was another bullish month for the precious metals, with Gold and Silver settling net higher for February by $42.50 (3.5%) to $1253.90 and $0.93 (5.3%) to $18.47, respectively. Near/mid term outlook remains bullish unless rising trend is broken that links the Dec'2016 and Dec'2015 lows. First big upside target is to break last summer's highs.


Gold, monthly

Silver, monthly

Summary

Suffice to add, it was a bullish month for the precious metals, which was especially impressive, if you keep in mind the USD, which saw saw a net monthly gain of 1.7% to the DXY 101s.

Dec'2016 saw a key higher low for Gold and Silver, now its a case of waiting to break last summer's highs. Things turn hyper-bullish with Gold $1400s, Silver $22s, and GDX in the $32s.
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A strong week for the metals

It was another strong week for the precious metals, with Gold and Silver seeing net weekly gains of 1.7% and 2.0% respectively. Notably, Silver saw a ninth consecutive weekly gain, which is the best run ever for SLV (since it first appeared in spring 2006), and the best run for Silver since at least 1990.


GLD, weekly

SLV, weekly

Summary

Silver is leading the charge higher, followed by Gold... with a somewhat struggling copper - but still holding well above the Nov' breakout.

The 'Mr inflation is out there lurking' thesis doesn't seem so crazy anymore.
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Eight weeks up for Silver

The precious metals remain broadly strong, with net weekly gains for Gold and Silver of 0.1% and 0.2% respectively. Most notable, Silver was higher for an eighth consecutive week, the best run since Oct'2010... back when Silver was in the $25s.


GLD, weekly

SLV, weekly

Summary

Suffice to add.. the precious metals remain broadly strong, which is impressive, as so does the King of FIAT land... the USD.

Near term outlook does threaten a touch of cooling - as we're already seeing in the related Gold/Silver miners. However, mid/long term outlook is bullish.

Things turn hyper bullish with any price action for Gold in the $1400s.. and Silver in the $22s.

Net weekly gains

The precious metals saw a rather bullish week, with Gold and Silver seeing net weekly gains of 1.2% and 2.7% respectively. Notably, Silver climbed for a seventh consecutive week, the best run since Oct'2012. Near term outlook is a little uncertain, as a short term retrace is overdue.


GLD, weekly

SLV, weekly

Summary

Short term... we're approaching resistance of the upper weekly bollinger.

Mid term outlook for the precious metals is arguably bullish. I should note, I'm still not fully confident to say anything about the longer term. I really want to see Gold $1400s and Silver in the $22s to have 100% bullish clarity that the Dec'2015 lows won't be broken.

To be clear, my best guess though... the Dec'2015 lows are a key multi-year floor, with Dec'2016 marking a very important higher low.

Things turn real bullish with GLD >132, and SLV >20.

Metals still broadly strong

It was a rather bullish week for the precious metals, with Gold and Silver seeing net weekly gains of 2.3% and 2.2% respectively. Near/mid term outlook is bullish, unless the Dec'2016 lows are broken under.


GLD, weekly

SLV, weekly

Summary

Suffice to add... a key low in Dec'2015, with a significantly higher low in Dec'2016. Now its a case of attaining a key higher high in the $1400s this summer/autumn.