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.
