Bearish engulfing candles played out

The precious metals of Gold and Silver saw net April declines of -$45.60 (1.0%) to $4628.92, and -$0.88 (1.2%) to $74.16 respectively. 

Gold, monthly1b

 

Silver, monthly1b 

 

Summary

Gold: swinging from a high of $4891, and settling at $4628. The bearish engulfing March candle played out. Momentum weakened for a second month. 
--
 
Silver: swinging from a high of $83.04, and settling at $74.16. The bearish engulfing March candle played out.  Momentum weakened for a second month.
--

 

The gold-silver ratio settled April at 62.42. I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 

--

 

With Bitcoin (as at April 30th) $76K, the gold-bitcoin ratio climbed upward to 16.49.

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

For more of the same... > https://www.tradingsunset.com

Bearish engulfing candles

The precious metals of Gold and Silver saw net March declines of -$601.56 (11.4%) to $4676.45, and -$18.43 (19.6%) to $75.39 respectively. 

Gold, monthly1b

Silver, monthly1b 

Summary

Gold: swinging from a high of $5419 to $4098, and settling at $4676. The March candle is bearish engulfing. Momentum rolled over.
--
 
Silver: swinging from a low of $96.38 to $60.94, and settling at $75.39. The March candle is bearish engulfing. Momentum rolled over.
--

 

The gold-silver ratio settled March at 62.03. I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 

--

 

With Bitcoin (as at March 31) $67K, the gold-bitcoin ratio climbed back upward to 14.55.

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

For more of the same... > https://www.tradingsunset.com

 

A net positive February

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. 
--
 
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.
--

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. 

-

 

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. 

-

--

For more of the same... > https://www.tradingsunset.com

Historic action for gold/silver

The precious metals of Gold and Silver saw net January gains of +$564.10 (13.0%) to $4886.71, and +$14.03 (19.9%) to $84.63 respectively. 

Gold, monthly1b

Silver, monthly1b

Summary

Gold: printing a new historic high of $5608.35. Price momentum ticked upward, and remains on the very high side. I would note the monthly 10MA at $3789, which was settled above, as the l/t trend remains bullish. The January candle is extremely spiky on the upper side, and bodes for s/t cooling. 

L/t bullish, as 6K appears an easy target, with 7/8K viable before year end. 
--
 
Silver: printing a new hist' high of $121.64. Momentum continued to tick upward, and is on the very high side. I would note the monthly 10MA at $48.52, which was settled above, as the l/t trend remains bullish. The January candle is extremely spiky on the upper side, and bodes for s/t cooling. 

L/t bullish, as $150 appears probable on the next up wave, with $200 viable before year end.
--

Special note on Friday's collapse wave

First, Thursday's price action wasn't pretty, and whilst there was a very powerful bounce, it was still a warning of s/t bullish exhaustion. 

Friday, January 30th was truly historic. In pre-market I saw gold -6% with silver -11%. With the opening bell, that soon became gold -7% with silver -15%. Red equities didn't help, with maximum horror of gold -12% with silver -34%. Truly incredible.  

Regardless of how next week trades, I see this as just a s/t washout. Nothing has changed for the mid/long term, with even a number of the mainstream analysts starting to accept Gold $10K with Silver >$300, within the next few years. 

--
If only as a historical note (for myself), here are the daily charts... 

Gold, daily

Gold printed a low of $4698, if seeing a (relatively) minor bounce to settle -$490.03 (9.1%) to $4886.
Daily momentum has begun to weaken, and due to turn negative next Mon'/Tues'.
I'd note the 50dma $4457, which has been support since last August. 

Right now, the most bearish target would be 4200/4000. 

The cautious looking to buy/add will be waiting for daily momo to stop weakening. 
-- 

Silver, daily

Silver printed a low of $77.73, if seeing a minor bounce to settle -$31.16 (26.9%) to $84.63.
Daily momentum settled fractionally positive.
I'd note the 50dma at $73.63, which was key support in Oct-Nov'.

Right now, the most bearish target would be the $54s/psy'50.

The cautious looking to buy/add will be waiting for daily momo to stop weakening. 

-- 

 

The gold-silver ratio settled January at 57.74, the lowest since early 2013.
I would note the 32s have been historically important. 
On a long term basis (5+ years) silver could be expected to outperform gold. 
-

 

With Bitcoin (as at January 30th) $84K, the gold-bitcoin ratio declined to 17.20, the lowest since late 2013.  

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

For more of the same... > https://www.tradingsunset.com 

A year for gold and silver

The precious metals of Gold and Silver saw net December gains of +$104.80 (2.5%) to $4322.61, and +$14.85 (26.3%) to $71.26 respectively. For the year, Gold and Silver saw net gains of +$1698.23 (64.7%), and +$42.38 (146.7%).

Gold, monthly1b

Silver, monthly1b

 

Summary

Gold: printing a new historic high of $4549.98. Price momentum ticked upward, and remains on the very high side. I would note the monthly 10MA at $3612, which was settled above, as the l/t trend remains bullish. The December candle is pretty spiky on the upper side, and threatens s/t cooling. 

L/t bullish, 5K appears an easy target for 2026, with 7/8K viable.
--
 
Silver: printing a new hist' high of $83.62. Momentum continued to tick upward, and is on the very high side. I would note the monthly 10MA at $43.52, which was settled above, as the l/t trend remains bullish. The December candle is very spiky on the upper side, and threatens s/t cooling. 

L/t bullish, as giant psy'$100 is clearly coming within 2026.
If Gold $7K, silver should be >$150 

... with very bullish implications for the related gold/silver miners.  

--

 

The gold-silver ratio fell to 60.66, the lowest since 2013. 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 Dec'31st) around $87K, the Gold-Bitcoin ratio has dropped, settling December to around 20.25. It remains a curious thought that it takes a little over twenty 1oz gold coins to purchase one bitcoin, the latter of which has an intrinsic value of $0.00
- 

 

For more of the same... 

Subscriptions > https://www.tradingsunset.com 

Continuing broadly upward

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. 
--
 
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. 
-

 

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.
--

 

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
-

For more of the same...    

Subscriptions > https://www.tradingsunset.com 

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. 
--
 
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. 
-

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.
-- 

 

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.
--

 

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
-

For more of the same...    

Subscriptions > https://www.tradingsunset.com 

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. 
--
 
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. 
-

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'. 
--

 

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
-

For more of the same...    

 

Subscriptions > https://www.tradingsunset.com 

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.
--

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.
-

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'. 
--

 

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
-

For more of the same...    

Subscriptions > https://www.tradingsunset.com 

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.
--

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.
-

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
-

For more of the same...    

Subscriptions > https://www.tradingsunset.com