Sunday 1 November 2020

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.

Wednesday 30 September 2020

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.

Friday 31 July 2020

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.

Tuesday 30 June 2020

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.

Saturday 30 May 2020

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.

Thursday 30 April 2020

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.

Tuesday 31 March 2020

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.

Friday 28 February 2020

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.

Saturday 1 February 2020

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.