Broadly churning

The precious metals of Gold and Silver were moderately mixed in March, settling -$8.10 (0.6%) to $1319.20, and +$0.13 (0.8%) to $16.40 respectively. Near term outlook offers further chop. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold monthly

Silver monthly

Summary

There is little to add, as the precious metals continue to broadly churn since early 2017. Gold remains notably stronger than Silver.

Best guess: an eventual upside break in Gold... with Silver to follow, as partly based on m/t bullish trends in WTIC and copper. For the moment though, gold is showing zero sign* of a breakout, partly pressured by a recently strengthening USD.

*implications for the related miners. 

Mixed metals

The precious metals of Gold and Silver were rather mixed this week, settling -$9.60 (0.7%) to $1338.30, and +$0.50 (3.0%) to $17.16 respectively. Near term outlook offers broader upside. The m/t outlook would turn decisively bullish if Gold >$1400 and Silver >$22s.


Gold weekly

Silver weekly

Summary

Suffice to add, the metals were rather mixed this week. Unusually, Silver is outperforming gold, although across the last year or so, its still massively lagging.
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Copper, Gold, Silver, 10yr, monthly

The trio of metals do broadly trade together across the years. Since late 2015, Copper and Gold are performing far better than Silver. This past week's sig' gain in Silver could well be the start of a major bullish run. Keep in mind, the broader commodity complex is climbing. I'd refer anyone to the following CRB chart...

Soft target for the CRB remains the 220/30 zone. If correct, bullish implications for the metals (and related mining stocks), at least to some degree.