Tuesday 31 December 2019

Gold and Silver settle 2019

The precious metals of Gold and Silver saw net December gains of +$50.40 (3.4%) to $1523.10, and +$0.81 (4.8%) to $17.92 respectively. For the year, Gold and Silver saw net gains of +18.9% and +15.3% respectively.


Gold monthly1b



Silver monthly 1b



Summary

Gold: significant gains to conclude the year, with a provisional confirmation of the bull flag.

Silver: a strong end to the year, with a provisional confirmation of multi-month price structure of a bull flag.


The outlook and targets

Soft target for Gold is the Sept' high of the $1566s, and then onward to the 1650/1750 zone. A challenge of the Sept'2011 historic high of $1923.70, is clearly viable by late 2020.

Big target for Silver is the 2016 high of $21.23. Any price action >22.00 would be decisive, and have monstrous bullish implications on a mid/long term basis.
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A couple of miscell' videos...



And...




Good wishes for 2020, and indeed... the decade ahead.