Wednesday 31 March 2021

Gold/Silver still broadly falling

The precious metals of Gold and Silver saw net March declines of -$13.20 (0.8%) to $1715.60, and -$1.91 (7.2%) to $24.53 respectively. Gold remains m/t bearish, whilst silver is borderline.

Gold, monthly1b 


Silver, monthly1b




Gold: Gold printed $1673.30, the lowest since June 2020. Price momentum ticked lower, and is negative for a second month. There is simply zero sign of a short or mid term floor. I would note the monthly 10MA at $1851.11.

Silver: A second consecutive net monthly decline, printing a low of $23.74. Monthly momentum ticked lower, but remains moderately positive. With the monthly 10MA at $24.55, silver settled 2cents below this rather key MA. The situation is 'borderline'. Copper remains indirectly supportive to the notion that Silver will eventually push to next major resistance of the 35/37 zone.

Perhaps the most incredible thing is...



The Gold:Bitcoin ratio stands at 34.34. Its truly bizarre that a cryptographic string is now worth   34oz of gold. We are indeed so very deep in... the twilight zone.