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.