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.
