A difficult May

The precious metals of Gold and Silver saw net May declines of -$17.00 (0.8%) to $1982.10, and -$1.64 (6.5%) to $23.59 respectively. Monthly momentum remains positive, but the two concerns should be further dollar upside and higher bond yields.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new multi-month high of the $2085s, if cooling back to settle in the $1982s. Price momentum was positive for a third month. The May candle is spiky on the upper side, we've have a higher high... but a lower low. Next upside resistance is the Aug'2020 historic high of the $2089s. Any price action >2100, would offer the 2400/2500 zone.

Any further upside in the dollar won't help, nor would any further rate hikes.
-

Silver: printing $26.43, if cooling back to settle at $23.59. Momentum was net positive for a third month. I would note the monthly 10MA at $21.97, which silver settled above.

A key threat to silver, will be if the main market sees renewed downside. A further downward pressure will be if the dollar continues to re-strengthen.

Of the two metals, I favour Gold, especially for a potential geo-political 'fear bid'. I'd accept silver has massively more upside potential than gold, but many have been saying that since the $49s of 2011.

For more of the same...     

For details and the latest offers > https://www.tradingsunset.com

Precious metals broadly climbing

The precious metals of Gold and Silver saw net April gains of +$12.90 (0.6%) to $1999.10, and +$1.07 (4.4%) to $25.23 respectively. Monthly momentum is increasingly positive, which bodes bullish for May.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new multi-month high of the $2063s, if cooling back to settle in the $1999s. Price momentum was net positive for a second month. The April candle is a little spiky on the upper side, but we do have a higher high and higher low. Next upside resistance is the Aug'2020 historic high of the $2089s. Any price action >2100, would offer the 2400/2500 zone.
-

Silver: printing $26.24, if cooling back to settle at $25.23. Momentum was net positive for a second month. I would note the monthly 10MA at $21.63, which silver settled far above.

A key threat to silver, will be if the main market sees renewed downside. A further downward pressure will be if the dollar resumes broadly upward.  

Of the two metals, I favour Gold, especially for a potential geo-political 'fear bid'. I'd accept silver has massively more upside potential than gold, but many have been saying that since the $49s of 2011.
-

The gold-silver ratio stands at 79.25, and remains on the high side.
-

 

The gold-bitcoin ratio climbed to 14.68, although this is still half of what it was in 2021.
-

For more of the same...   

For details and the latest offers > https://www.tradingsunset.com

A very bullish March

The precious metals of Gold and Silver saw net March gains of +$149.50 (8.1%) to $1986.20, and +$3.09 (14.6%) to $24.16 respectively. Monthly momentum has turned positive, which bodes bullish for April/Q2.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new multi-month high of the $2014s, if cooling to settle in the $1986s. Price momentum has turned positive. The March candle is arguably bullish engulfing, and leans bullish for April/Q2. Next upside resistance is the Aug'2020 historic high of the $2089s. Any price action >2100, would offer the 2400/2500 zone.
-

Silver: printing $19.94, but seeing a very powerful upside reversal, and settling at $24.16. Momentum has turned positive. I would note the monthly 10MA at $21.15, which silver settled above.

A key threat to silver, will be if the main market sees renewed downside. A further downward pressure will be if the dollar resumes broadly upward. 
-

The gold-silver ratio stands at 82.22, and is clearly on the high side.
-

The gold-bitcoin ratio climbed to 14.29, although this is still half of what it was in 2021.
-

For more of the same...    

For details and the latest offers > https://www.tradingsunset.com

Metals back on the slide

The precious metals of Gold and Silver saw net February declines of -$108.60 (5.6%) to $1836.70, and -$2.77 (11.6%) to $21.07 respectively. Monthly momentum has stalled from just under the key zero threshold.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new multi-month high of the $1975s, but swinging powerfully lower to the $1810s, and settling in the $1836s. Price momentum has stalled from just under the key zero threshold. The February candle is arguably bearish engulfing, and leans bearish into the spring. Next support is the monthly 10MA in the $1784s.
-

Silver: printing $24.75, but seeing a very powerful downside reversal to $20.50, and settling at $21.07. Momentum has stalled from just below the key zero threshold. I would note the monthly 10MA at $20.90, which silver settled above.

A key threat to silver, will be if the main market sees renewed downside into and across the spring. A further downward pressure will be if the dollar resumes broadly upward. 
-

The gold to silver ratio climbed to the 87s in February, as gold is holding up far better than silver.
-

The gold to bitcoin ratio stands at 12.59. I would expect gold to fair better this spring/summer, not least if there is any geo-political upset.
--

For more of the same...  

For details and the latest offers > https://www.tradingsunset.com

Gold leading Silver

The precious metals of Gold and Silver saw net January changes of +$119.10 (6.5%) to $1945.30, and -$0.20 (0.8%) to $23.84 respectively. Monthly momentum is due to turn positive for both gold and silver at the Feb'1st open.

Gold, monthly1b

Silver, monthly1b

Summary

Gold: printing a new multi-month high of the $1950s, higher for a third consecutive month. Price momentum ticked higher for a third month, and is due to turn positive at the Feb'1st open. I would note the monthly 10MA at $1791, which was once again settled above. 

Upside resistance thresholds... the upper bollinger $1963s, giant psy' 2K, and then the Aug'2020 hist' high of $2089. Any price action >$2100 would offer a grander run to 2400/2500, as seems realistic as early as late summer.
-

Silver: printing $24.77, but cooling back to settle at $23.84.  Momentum ticked higher for a fifth consecutive month, and will turn positive at the Feb'1st open. I would note the monthly 10MA at $21.10, which silver settled above.

The problem for silver, will be if the main market sees renewed downside into the spring. A further downward pressure will be if the dollar resumes broadly upward. 
-

The gold to silver ratio ticked upward to 81.61. We remain historically on the high side, and I do expect an eventual return to the 34s. That doesn't mean gold AND silver can't both rise together.

--

The gold to bitcoin ratio climbed to 11.83. I have to wonder if we'll see ever parity again, and I fully accept that as 'crazy gold bug' talk.
-

For more of the same... 

For details and the latest offers > https://www.tradingsunset.com