Rough September for Gold & Silver

The precious metals of Gold and Silver saw net September declines of -$83.10 (4.2%) to $1895.50, and -$5.10 (17.8%) to $23.49 respectively. Despite a rough month, the long term trend in gold remains bullish, with silver battling to hold above old resistance - now new support, of the 21/20s.


Gold, monthly3

 

Silver, monthly3

 

Summary

Gold: lower for a second consecutive month, printing a low of $1851.00. The July break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic in Q1 2021.

Silver: a very severe net monthly decline, printing a low of $21.81. Old resistance of the 21/20s, will now act as new core support. M/t bullish, with next target of 35/37, which appears probably in Q1 2021.
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With silver having broken above the decisive $22s this summer, the bold will now be leaning toward Silver, which should outperform gold into and across 2021.

Gold breaks above $2000

The precious metals of Gold and Silver saw net July gains of +$185.40 (10.3%) to $1985.90, and +$5.58 (29.9%) to $24.22 respectively. The long term trend in gold remains bullish, with silver finally breaking up and away.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the seventh monthly gain of eight, breaking a new historic high of $2005.40. The break above giant psy'2K offers a grander target of the 2400/500 zone, which appears realistic before year end.

Silver: a fourth consecutive net monthly gain, notably breaking above the 2016 high of $21.23, and printing $26.27 - the highest since April 2013. The move above the decisive $22s, offers a basic target of psy'30.
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With silver breaking above the decisive $22s, the bold will now be leaning to Silver.

Gold settles strongly

The precious metals of Gold and Silver saw net June gains of +$48.80 (2.8%) to $1800.50, and +$0.14 (0.7%) to $18.64 respectively. The m/t trend in gold remains bullish, with silver still broadly lagging.


Gold, monthly1b

Silver, monthly1b

Summary

Gold: the sixth monthly gain of seven, printing $1804.00, the highest level since Nov'2011. New historic highs above the Sept'2011 high of $1923.70 appear a given before year end. Any price action >2K should see very significant mainstream bullish chasing, with a grander target of the 2400/500 zone.

Silver: a third consecutive net monthly gain, printing $18.95. Big target remains the 2016 high of $21.23. Things turn decisive >22.00, which would offer a basic target of psy'30.
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For now, the more cautious will lean to gold, as silver is still broadly stuck. In any case, m/t bullish implications for the related miners.