The precious metals of Gold and Silver saw net April gains of +$52.10 (3.0%) to
$1767.70, and +$1.34
$25.87 respectively. Gold remains m/t bearish, whilst silver is borderline.
Gold: Gold printed $1798.40, but cooled into end month, settling in the $1767s. Price momentum continued to tick lower, and is negative for a third month. For now, there is no clear sign we have a mid term floor from the $1673s. I would note the
monthly 10MA at $1847.83.
Silver: A significant net monthly gain of +5.5%. Monthly momentum ticked lower for a third month, but remains moderately positive. I would note the monthly 10MA at $25.27, which silver did manage to settle above. The situation is somewhat 'borderline'. Things turn interesting with a break AND hold above psy' $30.00.
The trio of copper, gold, and silver 'broadly' trade together across the years. Copper remains indirectly
supportive to the notion that Silver will eventually catch up, and reach next major
resistance of the 35/37 zone.