The precious metals of Gold and Silver saw net February gains of +$390.98 (8.0%) to $5278.05, and +$9.18 (10.8%) to $93.82 respectively.
Gold, monthly1b
Silver, monthly1b
Summary
Gold: swinging from a low of $4404 to $5280, and settling at $5278. Price momentum ticked upward, and remains on the extremely high side. I would note the monthly 10MA at $3989, which was settled above, as the l/t trend remains bullish.
6K appears an easy target, with 7/8K viable before year end.
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Silver: swinging from a low of $63.99 to $94.17, and settling at $93.82. Momentum continued to tick upward, and is on the very high side. I would note the monthly 10MA at $54.64, which was settled above, as the l/t trend remains bullish.
The February candle is bullish engulfing, and bodes distinctly s/t bullish.
L/t bullish, as $150 appears probable on the next up wave, with $200 viable before year end.
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The gold-silver ratio settled February at 56.26, the lowest since April 2013.
I would note the 32s have been historically important.
On a long term basis (5+ years) silver could
be expected to outperform gold.
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With Bitcoin (as at February 28th) $65K, the gold-bitcoin ratio declined to 12.49, the lowest since March 2023.
As ever, ratio charts should be
especially treated with caution.
Price action is far more important than any ratio.
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