Gold weekly
Silver weekly
Summary
Nothing to add from recent weeks.
Friday 24 November 2017
Choppy metals
It was a week of chop for the precious metals of Gold and Silver, with
net weekly declines of -$9.20 (0.7%) to $1287.30, and -$0.38 (2.2%) to
$16.99 respectively. Near term outlook offers further weakness, not least if the USD has even a moderate bounce into early December.
Gold weekly
Silver weekly
Summary
Nothing to add from recent weeks.
Gold weekly
Silver weekly
Summary
Nothing to add from recent weeks.
Friday 17 November 2017
Metals battling upward
It was a bullish week for the precious metals of Gold and Silver, with
net weekly gains of +$22.30 (1.7%) to $1296.50, and +$0.50 (3.0%) to
$17.37 respectively. Near term outlook offers further upside, not least if the USD stays below the DXY 95.00 threshold.
Gold weekly
Silver weekly
Summary
Suffice to add... nothing has changed.
I hold to the notion that 'Mr inflation is lurking'. Copper saw a key Aug' close >$3.00, confirmed in Oct'.
Copper, gold, silver - monthly, 10yr
The trio of metals do broadly trade together on a multi-year basis. If you believe copper will continue to claw upward into, and across much of 2018, then gold and silver should be expected to follow to some extent.
*if correct, bullish implications for the related mining stocks.
Gold weekly
Silver weekly
Summary
Suffice to add... nothing has changed.
I hold to the notion that 'Mr inflation is lurking'. Copper saw a key Aug' close >$3.00, confirmed in Oct'.
Copper, gold, silver - monthly, 10yr
The trio of metals do broadly trade together on a multi-year basis. If you believe copper will continue to claw upward into, and across much of 2018, then gold and silver should be expected to follow to some extent.
*if correct, bullish implications for the related mining stocks.
Friday 10 November 2017
Minor weekly gains
It was a moderately bullish week for the precious metals of Gold and Silver, with
net weekly gains of + $5.00 (0.4%) to $1274.20, and +$0.04 (0.2%) to
$16.87 respectively. Near term outlook offers further choppy weakness, not least if the USD claws a little further upward.
Gold weekly
Silver weekly
Summary
Suffice to add, gold remains far stronger than silver.
Key thresholds: Gold $1400s, Silver $22s, with Copper $3.00s.
--
The three metals do broadly trade together, and it remains my view that if copper does push upward into and across 2018, that gold and silver will eventually follow.
Copper, gold, silver, monthly
Gold weekly
Silver weekly
Summary
Suffice to add, gold remains far stronger than silver.
Key thresholds: Gold $1400s, Silver $22s, with Copper $3.00s.
--
The three metals do broadly trade together, and it remains my view that if copper does push upward into and across 2018, that gold and silver will eventually follow.
Copper, gold, silver, monthly
Friday 3 November 2017
Metals settling fractionally mixed
It was a mixed week for the precious metals of Gold and Silver, with
net weekly changes of -$2.60 (0.2%) to $1269.20, and +$0.08 (0.5%) to
$16.83 respectively. Near term outlook offers further choppy weakness, not least if the USD continues to claw upward.
Gold weekly
Silver weekly
Summary
Gold was lower for a third week, but is still holding well above the m/t bullish trend from the key multi-year low of Dec'2015. Provisional alarm bells should sound with any daily closes <1250, and it won't take much to see that occur. Things turn outright bearish if (at year end), Gold is trading <1200.
Do I expect that? No. Why? I see indirect strength via copper, oil, and a number of other commodities.
Silver remains far weaker than gold, and is far below the April high of $18.66. The outlook would turn VERY bearish for silver with any daily closes <15.60. For the record, I don't expect that.
--
*As ever, the price action in Gold and Silver will have powerful effects on the related mining stocks, which have been struggling lately.
Gold weekly
Silver weekly
Summary
Gold was lower for a third week, but is still holding well above the m/t bullish trend from the key multi-year low of Dec'2015. Provisional alarm bells should sound with any daily closes <1250, and it won't take much to see that occur. Things turn outright bearish if (at year end), Gold is trading <1200.
Do I expect that? No. Why? I see indirect strength via copper, oil, and a number of other commodities.
Silver remains far weaker than gold, and is far below the April high of $18.66. The outlook would turn VERY bearish for silver with any daily closes <15.60. For the record, I don't expect that.
--
*As ever, the price action in Gold and Silver will have powerful effects on the related mining stocks, which have been struggling lately.
Subscribe to:
Posts (Atom)