The precious metals of Gold and Silver saw net October gains of +$26.90 (1.5%) to
$1783.90, and +$1.90
SummaryGold: printing $1815.50, but cooling back into end month, settling in the $1783s. Price momentum ticked lower, and hasn't been this negative since early 2014. The October candle doesn't offer a short/mid term floor. I would note the monthly 10MA at $1791. For bullish confidence, gold bugs need to see a monthly settlement >$1850.
Silver: printing $24.92, if cooling back to $23.95 Momentum ticked lower for a fifth month, and is on the moderately negative side. I would note the monthly 10MA at $25.35, which silver settled below. Price action has been a chop fest since August 2020. Things turn decisive for the silver bulls, with a break AND hold above $26.00.
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