Gold and Silver reversal

The precious metals of Gold and Silver saw net October gains of +$139.31 (3.6%) to $3998.45, and +$1.91 (4.1%) to $48.57 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new hist' high of $4381.58, if cooling back to the $3998s. Price momentum ticked upward, and remains on the very high side. I would note the monthly 10MA at $3323, which was settled above, as the l/t trend remains bullish. 

The October candle was very spiky on the upper side, indicative of tired bulls. 
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Silver: printing a new hist' high of $54.49, if cooling back to the mid $48s. Momentum continued to tick upward, and is on the very high side. I would note the monthly 10MA at $36.98, which was settled above, as the l/t trend remains bullish.

The October candle was very spiky on the upper side, indicative of tired bulls. 
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So... net monthly gains for gold and silver, but October did see a rather powerful downside reversal. Further cooling to test the monthly 10MA... around $3500 and psy' $40, would be the natural outcome, before resuming upward.
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The gold-silver ratio fell to 82.33, but remains historically high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
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With Bitcoin (as at October 31st) around $109K, the Gold-Bitcoin ratio has decreased, settling October to around 27.38. It remains a curious thought that it takes a little over twenty seven 1oz gold coins to purchase a one bitcoin, the latter of which has an intrinsic value of $0.00
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Gold pushing toward $4K

The precious metals of Gold and Silver saw net September gains of +$410.24 (11.9%) to $3859.40, and +$6.93 (17.4%) to $46.64 respectively.

Gold, monthly1b

 

Silver, monthly

 

Summary

Gold: printing a new hist' high of $3871.28, a massive September gain, settling in the $3447s. Price momentum ticked back upward, and remains on the very high side. I would note the monthly 10MA at $3186, which was settled above, as the m/t trend remains bullish. 

The September candle was solid, making for the highest ever monthly settlement. 
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Silver: printing $47.18 - the highest since May 2011. Momentum accelerated upward, and is on the high side. I would note the monthly 10MA at $35.00, which was settled above, as the m/t trend remains bullish.

The September candle is solid, making for the highest monthly settlement since April 2011. 
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is still outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
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The gold-silver ratio fell to 82.75, but remains historically high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin (as at October 1st) around $114K, the Gold-Bitcoin ratio has decreased, settling September to around 29.56. It remains a curious thought that it takes a little under thirty one 1oz gold coins to purchase a bitcoin, the latter of which has an intrinsic value of $0.00
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Positive August

The precious metals of Gold and Silver saw net August gains of +$159.33 (4.8%) to $3447.83, and +$3.02 (8.2%) to $39.70 respectively.

Gold, monthly

 

Silver, monthly

 

Summary

Gold: a powerful August gain, settling in the $3447s. Price momentum weakened for a third month, and remains on the very high side. I would note the monthly 10MA at $3065, which was settled above, as the m/t trend remains bullish. 

The August candle was solid, making for the highest ever monthly settlement. 

I have moderate concern of a washout into the Fall to 3100/3000, if bond yields spike with a stronger dollar.
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Silver: printing $39.97 - the highest since Sept'2011. Momentum ticked upward, and remains on the moderately high side. I would note the monthly 10MA at $33.40, which was settled above, as the m/t trend remains bullish.

The August candle is solid, making for the highest monthly settlement since Sept'2011. 

I've concern of a washout into the Fall to the $35/34s within Sept/Oct', not least if the main market sees a correction of around 10% to the SPX 5800s.
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is still massively outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
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The gold-silver ratio fell to 86.85, but remains historically VERY high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin (as at August 29th) around $108K, the Gold-Bitcoin ratio has decreased, settling August to around 31.43. It remains a curious thought to realise that it takes a little more than thirty one 1oz gold coins to purchase a bitcoin, the latter of which has an intrinsic value of $0.00
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Mixed month

The precious metals of Gold and Silver saw net July changes of -$11.05 (0.3%) to $3292.22, and +$0.60 (1.7%) to $36.70 respectively.

Gold, monthly1b

 

 

Silver, monthly1b

 

Summary

Gold: a choppy month, settling marginally lower in the $3292s. Price momentum ticked lower for a second month, and remains on the very high side. I would note the monthly 10MA at $2996, which was settled above, as the m/t trend remains bullish. 

The July candle was spiky, making for four consecutive candles that are reflective of tired gold bulls. 

A washout into the Fall... to around psy' $3K appears more likely than not, especially if bond yields spike with a stronger dollar.
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Silver: printing $39.53 - the highest since Sept'2011, but cooling back to settle at $36.70. Momentum ticked upward, and remains on the moderately high side. I would note the monthly 10MA at $32.70, which was settled above, as the m/t trend remains bullish.

The July candle is pretty spike on the upper side, indicative of s/t bullish exhaustion.

A washout into the Fall... to the $34/33s looks pretty easy within Sept/Oct', not least if the main market sees a correction of around 10% to the SPX 5800s.
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is massively outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
--

 

The gold-silver ratio fell to 89.71, but remains historically VERY high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin (as at July 31) around $116K, the Gold-Bitcoin ratio has increased, settling July around 35.34. It remains a curious thought to realise that it takes a little more than thirty five 1oz gold coins to purchase a bitcoin, the latter of which has an intrinsic value of $0.00
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Metals still climbing

The precious metals of Gold and Silver saw net June gains of +$18.39 (0.6%) to $3307.71, and +$3.11 (9.4%) to $36.10 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: a choppy month, settling moderately higher in the $3307s. Price momentum ticked back lower, and remains on the very high side. I would note the monthly 10MA at $2930, which was settled above, as the m/t trend remains bullish. 

Next resistance of psy'3500 was hit in April. There is increasing mainstream recognition that $4K is probable this year.
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Silver: printing $37.30 - the highest since Feb'2012, but cooling back to settle at $36.10. Momentum ticked back upward, and remains on the moderately high side. I would note the monthly 10MA at $32.15, which was settled above, as the m/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is massively outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
--

 

The gold-silver ratio fell to 91.62, but remains historically VERY high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin (as at June 30th) around $107K, the Gold-Bitcoin ratio has increased, settling June around 32.42. It remains a curious thought to realise that it takes a little more than thirty two 1oz gold coins to purchase a bitcoin, the latter of which has an intrinsic value of $0.00
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Still broadly strong

The precious metals of Gold and Silver saw net May gains of +$15.79 (0.5%) to $3288.58, and +$0.36 (1.1%) to $32.98 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: a choppy month, settling moderately higher in the $3288s. Price momentum ticked upward for a third month, and is on the very high side. I would note the monthly 10MA at $2850, which was settled above, as the m/t trend remains bullish. 

Next resistance of psy'3500 has been hit. There is increasing mainstream recognition that $4K is probable this year.
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Silver: printing $33.70, but cooling back to settle significantly higher at $32.98. Momentum ticked lower, and remains on the moderately high side. I would note the monthly 10MA at $31.43, which was settled above, as the m/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is massively outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
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The gold-silver ratio ticked a touch lower to 99.73, but remains historically VERY high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin (as at May 30th) around $104K, the Gold-Bitcoin ratio has increased, settling May at 31.55. It remains a curious thought to realise that it takes a little more than thirty one 1oz gold coins to purchase a bitcoin, the latter of which has an intrinsic value of $0.00
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Gold $3500

The precious metals of Gold and Silver saw net April changes of +$160.50 (5.1%) to $3124.22, and -$1.37 (4.0%) to $32.65 respectively.

Gold, monthly1b

Silver, monthly1b

Summary

Gold: printing a new historic high of $3500.00, if cooling back to settle in the $3281s. Price momentum ticked upward for a second month, and is on the very high side. I would note the monthly 10MA at $2766, which was settled above, as the m/t trend remains bullish. 

Next resistance of 3500/3750 has been hit. There is increasing mainstream recognition that $4K is probable this year.
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Silver: printing $28.45, but recovering to settle at $32.65. Momentum ticked back lower, and remains on the moderately high side. I would note the monthly 10MA at $31.04, which was settled above, as the m/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is massively outperforming silver. Even the bold will continue to favour gold, which would better capture a future geo-political 'fear bid'. 
--

 

The gold-silver ratio increased to 100.50, and is historically VERY high. I'd accept that on a long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin settling the month around $94K, the Gold-Bitcoin ratio has increased, settling April at 28.69. It remains a curious thought to realise that it takes almost twenty nine 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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Gold settles above 3K

The precious metals of Gold and Silver saw net March gains of +$267.31 (9.4%) to $3124.22, and +$2.89 (9.3%) to $34.02 respectively.

Gold, monthly1b

Silver, monthly1b 

Summary

Gold: printing a new historic high of $3126.84, if cooling back to settle in the $3124s. Price momentum ticked back upward, and is on the high side. I would note the monthly 10MA at $2671, which was settled above, as the m/t trend remains bullish. 

Having achieved a break AND hold above giant psy' $3K, next resistance is arguably 3500/3750 zone, as looks realistic by mid year.
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Silver: printing $34.58, but cooling back to settle at $34.02. Momentum ticked back upward, and remains on the moderately high side. I would note the monthly 10MA at $30.69, which was settled above, as the m/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is far outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
--

 

The gold-silver ratio increased to 91.83, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin settling the month around $82K, the Gold-Bitcoin ratio has fallen, settling March at 26.35. It remains a curious thought to realise that it still takes twenty six 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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Gold still broadly climbing

The precious metals of Gold and Silver saw net February changes of +$13.50 (0.5%) to $2848.50, and -$0.77 (2.4%) to $31.50 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new historic high of $2974.00, if cooling back to settle in the $2848s. Price momentum ticked a little lower, if remaining on the high side. I would note the monthly 10MA at $2610, which was settled above, as the m/t trend remains bullish. 

Giant psy' $3K is clearly viable within March. Lower bond yields and a weaker dollar would help, but aren't a necessity.
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Silver: printing $34.24, but cooling back to settle at $31.50. Momentum weakened a little, if remaining on the moderately high side. I would note the monthly 10MA at $30.64, which was settled above, as the s/t trend remains bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is far outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
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The gold-silver ratio increased to 90.44, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin cooling back to $84K, the Gold-Bitcoin ratio has fallen, settling February at 29.66. It remains a curious thought to realise that it takes almost thirty 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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Gold nearing $3000

The precious metals of Gold and Silver saw net January gains of +$194.00 (7.3%) to $2835.00, and +$3.02 (10.3%) to $32.26 respectively.

Gold, monthly1b

 

Silver, monthly1b

 

Summary

Gold: printing a new historic high of $2862.90, if cooling back to settle in the $2835s. Price momentum ticked back upward, and remains on the high side. I would note the monthly 10MA at $2555, which was settled above, as the m/t trend remains bullish. 

Giant psy' $3K is clearly viable within February, if more realistic in March. Lower bond yields and a weaker dollar would help, but aren't a necessity.
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Silver: printing $32.92, but cooling back to settle at $32.26. Momentum is flat-lining on the moderately high side. I would note the monthly 10MA at $30.16, which was settled back above, as the s/t trend is back to bullish
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Relative to 2011 - when Gold $1923 and Silver $49s, gold is still outperforming silver. Even the bold will continue to favour gold, which would better capture a geo-political 'fear bid'. 
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The gold-silver ratio stands at 87.87, and remains historically high. I'd accept that on a very long term basis (5+ years) silver could be expected to outperform gold.

As ever, ratio charts should be especially treated with caution.
Price action is far more important than any ratio.
--

 

With Bitcoin recently printing a new historic high of $109340, the gold-Bitcoin ratio broke a new historic high, settling January at 36.12. Its a curious thought to realise that it takes a little more than 36x 1oz gold coins to purchase a crypto coin, the latter of which has an intrinsic value of $0.00
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