The precious metals of Gold and Silver saw net November gains of +$212.28 (5.3%) to $4216.71, and +$7.57 (15.5%) to $56.37 respectively.
Gold, monthly1b
Silver, monthly1b
Summary
Gold: printing a low of $3928.86, if rebounding to the $4216s, the highest ever monthly settlement. Price momentum accelerated upward, and remains on the very high side. I would note the monthly 10MA at $3466, which was settled above, as the l/t trend remains bullish.
Giant psy' $5K appears realistic in January.
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Silver: ending November on the most bullish note possible... printing a new hist' high of $56.51. Momentum continued to tick upward, and is on
the very high side.
I would note the monthly 10MA at $39.51, which was settled above, as the l/t trend remains bullish.
Soft target is psy' $60, with secondary of 70/75, the latter of which appears realistic by mid January.
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The gold-silver ratio fell to 74.80. 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 November 28th) around $90K, the Gold-Bitcoin ratio
has dropped, settling November to around 21.58. It remains a
curious thought that it takes a little over twenty one 1oz gold coins to
purchase a one bitcoin, the latter of which has an intrinsic
value of $0.00
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