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.
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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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