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.