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Goldtosilverratio

GOLD continues to outperform SILVER On this chart the ratio of spot gold to spot silver is charted over time. The traditional benchmark of 75 is the horizontal black line on the chart. Above it gold is outperforming while below it gold is underperforming. Direction counts. Overall gold has been rising relative to silver since May 23. Gold did underperform as compared with silver from September 22 to the end of 2022. Silver last had any outperformance, in gold's trend down which briefly lasted from mid-March to May of 2023. Silver has considerable industrial uses compared with gold. At present, the ratio is rising making gold the better choice if trading or investing in these to metals for the intermediate or long term. This is especially true because central banks are accumulating gold most especially China whose ambition is to launch a gold-backed new currency.
OANDA:XAUUSD
by AwesomeAvani
GLD the gold futures ETF LONGOn the daily chart GLD is in a volume profile early breakout going above the jagged pruple line representing the top of the high volume area. Price has been compressing within a symmetrical triangle and now has broke through the descending resistance trendline portion of that. What remains to be seen is a retest of that new support line. Of late Bitcoin has ran up and probably taken with it market cap away from gold. ( see my idea on the Bitcoin to spot gold ratio) Now that Bitcoin has topped and is retracing capital is freed up to flow into gold which has been comparitively weaker. I will take a long trade here and exploit the opportunity in the cycle between gold and Bitcoin.
AMEX:GLDLong
by AwesomeAvani
5
GOLD, This BREAKOUT Will be the Most Price-Driving-Factor!Hello There! Welcome to my new analysis about GOLD on several timeframe perspectives. Since the war economy developments established in the recent year 2022 investors in the market are becoming much more fearful because of recession, inflation, stagflation, supply-chain disruptions and other factors that have changed the whole global financial markets into a market where investors are primarily looking to hedge against further uncertainty factors. Besides, that a implementation of a gold-backed currency-sytem is going to have massive effect not only on the gold-price-action, but also other price-driving-indications. As when considering the price-action GOLD has important lower support-zones in which it already bounced several times especially with the descending-support-level this is a major level from where a bounce is likely if not further supply and bearishness invalidates this level as a support. If a bounce from here on shows up with a implementation of a gold-backed currency-system in an even medium-sized economy this is going to convert the gold price into a pump near the all-time-high region. Then, it will be highly necessary that the gold-price also stays in this area and continues with the necessary momentum. Within the whole bigger global picture GOLD is building a much more momentous formation here as it is still within the Millenial-Cup-Handle-Formation and an initial completion of the local formation will be one step in the bigger picture of the completion of the final MIllenial-Cup-Handle-Formation. It has to be mentioned that the investors who are hedging against major recession, inflation, stagnation, and demand gap developments are holding the open interest here, this could change if a major gold-backed currenc-system implementation should reverse into the other direction. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
TVC:GOLD
by VincePrince
10
SILVER FUTURES, Pullback-Developments, BEARISH Indication!Hello There! Welcome to my new analysis about SILVER FUTURES on several timeframe perspectives. The SILVER FUTURES recently showed up with important pullbacks which moved on to test further remaining levels within the whole structure. From a market perspective the bonds market recently showed massive strength with T-bills emerging to form several higher highs and a continued upside movement. This upside movement is also given within the DXY, U.S.-Dollar Currency Index as the DXY continued to form strong movements to the upside putting pressure on the SILVER FUTURES asset. Within the chart SILVER FUTURES are forming this gigantic bear-flag-formation in which the price action is now testing the lower boundary a next consecutive time, as the boundary has been tested already over four times this increases the possibility for massive bearish pressure to show up once the price action actually formed a breakout below the lower boundary. Within this whole structure as the price action formed several consecutive lower highs and several lower lows a major pullback and continuation with an increase of bearish momentum and bearish pressure to the downside is not uncommon. With these terms in the perspective there are several important analysis factors to consider within the next times. Especially an further increase within the bonds, t-bills and the DXY will support the bearish scenario for Silver and then it will be necessary to determine the actual momentum setting up. Once the SILVER FUTURES completed the major gigantic bear-flag-formation the target-zones will be firstly within the 20.5 area, after that the 18.5 area, and when the price action reaches such a momentum that a reversal in this area is not possible in any case the next important determining target-zone will be within the 15.5 area. We keep an eye on the dynamics. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
COMEX:SI1!
by VincePrince
4