Mixed month

The precious metals of Gold and Silver saw net October changes of -$15.60 (0.8%) to $1879.90, and +$0.15 (0.6%) to $23.65 respectively. The mid term trend in gold remains bullish, with silver battling to hold above old resistance - now new support, of the 21/20s.


Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: lower for a third consecutive month, printing a low of $1859.20. The July break above giant psy'2K offers a grander target of the 2400/500 zone, which still appears realistic in Q1 2021.

Silver: a month of chop, printing a low of $22.62, but settling moderately higher. Old resistance of the 21/20s, will now act as new core support. M/t bullish, with next target of 35/37, which appears realistic in Q1 2021.
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With silver having broken above the decisive $22s this summer, the bold will now be leaning toward Silver, which should outperform gold into and across 2021.

Rough September for Gold & Silver

The precious metals of Gold and Silver saw net September declines of -$83.10 (4.2%) to $1895.50, and -$5.10 (17.8%) to $23.49 respectively. Despite a rough month, the long term trend in gold remains bullish, with silver battling to hold above old resistance - now new support, of the 21/20s.


Gold, monthly3

 

Silver, monthly3

 

Summary

Gold: lower for a second consecutive month, printing a low of $1851.00. The July break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic in Q1 2021.

Silver: a very severe net monthly decline, printing a low of $21.81. Old resistance of the 21/20s, will now act as new core support. M/t bullish, with next target of 35/37, which appears probably in Q1 2021.
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With silver having broken above the decisive $22s this summer, the bold will now be leaning toward Silver, which should outperform gold into and across 2021.

Gold breaks above $2000

The precious metals of Gold and Silver saw net July gains of +$185.40 (10.3%) to $1985.90, and +$5.58 (29.9%) to $24.22 respectively. The long term trend in gold remains bullish, with silver finally breaking up and away.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the seventh monthly gain of eight, breaking a new historic high of $2005.40. The break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic before year end.

Silver: a fourth consecutive net monthly gain, notably breaking above the 2016 high of $21.23, and printing $26.27 - the highest since April 2013. The move above the decisive $22s, offers a basic target of psy'30.
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With silver breaking above the decisive $22s, the bold will now be leaning to Silver.

Gold settles strongly

The precious metals of Gold and Silver saw net June gains of +$48.80 (2.8%) to $1800.50, and +$0.14 (0.7%) to $18.64 respectively. The m/t trend in gold remains bullish, with silver still broadly lagging.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the sixth monthly gain of seven, printing $1804.00, the highest level since Nov'2011. New historic highs above the Sept'2011 high of $1923.70 appear a given before year end. Any price action >2K should see very significant mainstream bullish chasing, with a grander target of the 2400/500 zone.

Silver: a third consecutive net monthly gain, printing $18.95. Big target remains the 2016 high of $21.23. Things turn decisive >22.00, which would offer a basic target of psy'30.
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For now, the more cautious will lean to gold, as silver is still broadly stuck. In any case, m/t bullish implications for the related miners.

Strong gold and silver

The precious metals of Gold and Silver saw net May gains of +$57.50 (3.4%) to $1751.70, and +$3.53 (23.5%) to $18.50 respectively. The m/t trend in gold remains bullish, with silver playing catch-up to gold.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the fifth monthly gain of six. Whilst the May candle didn't surpass the April high, the m/t trend is unquestionably bullish. The broadly strong USD remains a restraint on Gold. M/t bullish, as new historic highs appear probable late summer/autumn.

Silver: A second consecutive net monthly gain, but broader price action remains a mess. Big target remains the 2016 high of $21.23. Any price action >22.00 would be decisive, and offer a grander push to eventually challenge the 2011 historic high of $49.82.
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Gold/Silver ratio

The G/S ratio stands at 94.69, having cooled from the 113s. Silver is playing catch up to gold. In theory, the natural target would be the 67/66s. Its important to note that sure doesn't mean gold will be net lower. Quite the contrary, I am absolutely mid/long term bullish gold, but its likely that in terms of % gains, silver will outperform.

Gold broadly strong

The precious metals of Gold and Silver saw net April gains of +$97.60 (6.1%) to $1694.20, and +$0.82 (5.8%) to $14.97 respectively. S/t vulnerable, but the m/t trend remains bullish, with gold having printed an eight year high of $1788.80.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the 4th monthly gain of five, printing a high of $1788.80, the highest since Oct'2021. The April candle is rather spiky, and threatens s/t bullish exhaustion. The broadly strong USD remains a restraint on Gold. M/t bullish, as new historic highs appear probable later this year.

Silver: A net monthly gain, but broader price action remains a mess. The April candle is spiky, and leans s/t bearish.

Ongoing price action is a reminder that Gold remains superior to Silver, not least in terms of holding a 'fear bid'. Further capital market unrest could be expected to see that split widen.

A wild month for Gold

The precious metals of Gold and Silver saw net March changes of +$29.90 (1.9%) to $1596.60, and -$2.30 (14.0%) to $14.16 respectively. S/t choppy, but the m/t trend remains bullish, with gold having printed an eight year high of $1704.30.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: A low of $1450.90, a high of $1704.30, and settling in the $1596s. The March candle is dual spiky, and is indicative of capital market instability. There was an element of institutions selling gold to raise much needed cash. The fact gold broke a new EIGHT year high, is a reminder of the m/t bullish trend.

Silver: a second consecutive net monthly decline for 'poor man's gold', printing $11.64, the lowest since Jan'2009. Monthly momentum settled fractionally negative, and leans s/t bearish for early April.

March was a reminder that when things turn crazy, Gold captures a stronger 'fear bid' than Silver. Indeed, Silver further struggled as its a more industrial metal, falling broadly with Copper.
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The Gold Silver ratio broke a new historic high, settling March at 112.79. Again, its indicative that Gold is often the better trade than Silver. I do expect the ratio to narrow, but for now, there is ZERO sign of it.

Very mixed month

The precious metals of Gold and Silver saw net February declines of -$21.20 (1.3%) to $1566.70, and -$1.55 (8.6%) to $16.46 respectively. S/t bearish, but the m/t trend remains bullish, with gold having printed a seven year high of the $1691.70.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: printing a high of the $1691s - the highest since Jan'2013, but settling the month badly. The February candle is spiky, and leans s/t bearish for early March. Still m/t bullish though. Any dollar cooling would help re-accelerate gold back upward. The $1700s are realistic within late March/April.

Silver: printing a high of $18.92, but settling the month badly. The February candle is of the bearish engulfing type, and leans at least s/t bearish. Silver is not surprisingly struggling, as its a more industrial metal, and subject to global growth concerns. Still m/t bullish, with big target of the 2016 high of $21.23. Much like gold, a cooler dollar would help.

Gold and Silver clawing upward

The precious metals of Gold and Silver saw net January gains of $64.80 (4.2%) to $1587.90, and $0.09 (0.5%) to $18.01 respectively. The m/t trend remains bullish, with multi-month price structure of a bull flag already playing out.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: A second consecutive month higher, seeing a US/Iran spike high of $1613s, and settling in the $1587s. Multi-month price structure of a bull flag has been FULLY confirmed. Further upside to the 1650/1750 zone appears probable within Feb'/March.

Silver: A second consecutive month higher. Price structure of a bull flag has been PROVISIONALLY
confirmed. Further upside to challenge the 2016 high of $21.23 appears realistic within March/April.
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Any USD cooling would merely accelerate gold and silver upward. Further, any equity/capital market upset - whether about Corona, the Dem' nominee, or anything else, would also see gold/silver catch an extra kick upward.

If correct, mid/long term bullish implications for the related mining stocks.