Gold weekly
Silver weekly
Summary
Suffice to add, s/t bearish, but the indirect bullish aspect remains copper...
Copper weekly
With 2 trading days left of the month, copper is $3.10, and that should be enough to ensure an Oct' close >$3.00.
Friday, 27 October 2017
Metals pressured via the USD
It was a second consecutive bearish week for the precious metals of Gold and Silver, with
net weekly declines of -$8.70 (0.7%) to $1271.80, and -$0.33 (1.9%) to
$16.75 respectively. Near term outlook offers further weakness, not least if the USD continues to claw upward.
Gold weekly
Silver weekly
Summary
Suffice to add, s/t bearish, but the indirect bullish aspect remains copper...
Copper weekly
With 2 trading days left of the month, copper is $3.10, and that should be enough to ensure an Oct' close >$3.00.
Gold weekly
Silver weekly
Summary
Suffice to add, s/t bearish, but the indirect bullish aspect remains copper...
Copper weekly
With 2 trading days left of the month, copper is $3.10, and that should be enough to ensure an Oct' close >$3.00.
Friday, 20 October 2017
Back on the slide
It was a bearish week for the precious metals of Gold and Silver, with
net weekly declines of -$24.10 (1.8%) to $1280.50, and -$0.33 (1.9%) to
$17.08 respectively. Near term outlook offers renewed upside, not least if the USD resumes lower, or on geo-political
upset.
Gold weekly
Silver weekly
Summary
Suffice to add, broader price action is very choppy. Gold is far stronger than Silver, although Copper is stronger than Gold.
Indirectly, the ongoing upward trend in copper from late 2016 bodes that Gold and Silver will eventually catch up, as the trio trade broadly together across the years...
Gold, Silver, Copper, monthly, 10yr
... and if the metals rally into 2018, its bodes extremely bullish for the related miners.
Gold weekly
Silver weekly
Summary
Suffice to add, broader price action is very choppy. Gold is far stronger than Silver, although Copper is stronger than Gold.
Indirectly, the ongoing upward trend in copper from late 2016 bodes that Gold and Silver will eventually catch up, as the trio trade broadly together across the years...
Gold, Silver, Copper, monthly, 10yr
... and if the metals rally into 2018, its bodes extremely bullish for the related miners.
Friday, 13 October 2017
Significant weekly gains
It was a bullish week for the precious metals of Gold and Silver, with
net weekly gains of $29.70 (2.3%) to $1304.60, and $0.62 (3.7%) to
$17.41 respectively. Near term outlook offers further upside, not least if the USD resumes lower, or on geo-political
upset.
Gold weekly
Silver weekly
Summary
Suffice to add... the metals are leaning upward, with gold notably stronger than silver.
Copper remains a powerfully bullish indirect signal. If copper can keep clawing upward, its near impossible not to see Gold, Silver, and the related miners eventually follow.
Key thresholds: Gold $1400s, Silver $22s, Copper $3.00 (achieved).
If gold and silver can meet those thresholds, it will have very bullish mid/long term implications for the related mining stocks.
Gold weekly
Silver weekly
Summary
Suffice to add... the metals are leaning upward, with gold notably stronger than silver.
Copper remains a powerfully bullish indirect signal. If copper can keep clawing upward, its near impossible not to see Gold, Silver, and the related miners eventually follow.
Key thresholds: Gold $1400s, Silver $22s, Copper $3.00 (achieved).
If gold and silver can meet those thresholds, it will have very bullish mid/long term implications for the related mining stocks.
Friday, 6 October 2017
A mixed week for gold and silver
It was a mixed week for the precious metals of Gold and Silver, with net weekly changes of -$9.90 (0.8%) to $1274.90, and +$0.11 (0.7%) to $16.79 respectively. Near term outlook offers some chop,
but high threat of
renewed upside, not least if the USD resumes lower, or on geo-political
upset.
Gold weekly
Silver weekly
Summary
Gold: a fourth consecutive net weekly decline. Underlying MACD (blue bar histogram) cycle has turned fractionally negative for the first time since late July. First soft support is at $1220/10. Core rising trend from Dec'2015 currently offers support in the $1180s.
Silver: a moderate net weekly gain, and notably still lagging gold and copper. Underlying MACD cycle remains fractionally positive. Things really only turn bullish if the Feb/April highs are broken back above, and that is at least 2-3 months away.
--
*it remains the case that copper is leading gold and silver. The August copper settlement >$3.00 was very bullish, and bodes that Gold and Silver will eventually catch up.
Key thresholds: Gold $1400, Silver $22s, and Copper $3.00 (achieved).
Gold weekly
Silver weekly
Summary
Gold: a fourth consecutive net weekly decline. Underlying MACD (blue bar histogram) cycle has turned fractionally negative for the first time since late July. First soft support is at $1220/10. Core rising trend from Dec'2015 currently offers support in the $1180s.
Silver: a moderate net weekly gain, and notably still lagging gold and copper. Underlying MACD cycle remains fractionally positive. Things really only turn bullish if the Feb/April highs are broken back above, and that is at least 2-3 months away.
--
*it remains the case that copper is leading gold and silver. The August copper settlement >$3.00 was very bullish, and bodes that Gold and Silver will eventually catch up.
Key thresholds: Gold $1400, Silver $22s, and Copper $3.00 (achieved).
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