Category Archives: Silver

Summary Until ongoing tariff uncertainty is resolved, countries may be hesitant to strike new trade deals with the US. Despite … Continue reading →

Gold climbs to one-week peak early Monday on haven demand. Amid new uncertainty surrounding U.S. President Donald Trump’s trade and … Continue reading →

In a recent tweet, Robert Kiyosaki warned of a looming market crash and urged investors to turn to silver, calling … Continue reading →

(Bloomberg) — After a furious May rally, Wall Street analysts now have more buy ratings on individual companies in the … Continue reading →

Gold and silver are currently consolidating in a healthy manner, which is likely laying the groundwork for their next leg higher.

I’m encouraged to see them consolidating in a healthy manner, which I believe is ultimately laying the groundwork for the next leg of the bull market. Precious metals are also finding support from Moody’s recent downgrade of U.S. debt—a sharp reminder that the nation’s fiscal crisis remains far from resolved. In this environment of debt saturation, precious metals continue to stand out as reliable safe havens and powerful hedges against systemic risk.

First, let’s take a look at gold in the form of COMEX futures. I’ve noticed that gold tends to move in clean $100 increments, with strong support and resistance forming around round numbers like $3,000, $3,100, $3,200, and so on.

 After briefly dipping below $3,200 a couple of weeks ago, I’m encouraged to see that gold bounced back and even pushed above $3,300—an early sign of renewed strength.

At the moment, it appears to be consolidating sideways, catching its breath before the next move. The major resistance level to watch now is $3,500, which roughly aligns with the April 22nd high. 

A decisive breakout above that level—especially on strong volume—would confirm that gold is ready to charge toward $4,000. That’s the scenario I’m watching for closely.

Back on April 22nd, I believed gold had likely hit a short-term peak and was due for a mild pullback—and that’s exactly what we’re seeing now. What tipped me off was the formation of a spinning top candlestick on that day, signaling indecision after a strong rally, combined with short-term overbought conditions that called for a cooling-off period. 

At the moment, COMEX gold futures are trading within a $300 range between $3,200 and $3,500 as the metal digests those prior gains.

What I find particularly interesting—and encouraging—is the striking parallel between the current consolidation and what happened exactly one year ago. Back then, a spinning top candlestick also marked the peak of a powerful $400 rally during March and April, which left gold temporarily overbought. That was followed by a period of sideways consolidation, much like we’re seeing now, before gold broke out again in August 2024 and went on to post significant gains through November. It’s a compelling setup, and one worth watching closely to see if history repeats itself.

I also want to highlight how gold attempted to break below the $3,200 support level on May 15th but quickly reversed and snapped back into the trading range—a sign of underlying strength:

When assets like gold rally sharply, they often become overbought, making them susceptible to pullbacks or periods of consolidation to absorb the excess. A reliable way to gauge overbought conditions is by comparing the asset’s price to its 200-day moving average—a widely used indicator that smooths out short-term volatility and highlights the underlying trend.

When the price becomes significantly stretched above this moving average, it often signals vulnerability to a correction. That’s precisely what occurred in April 2024, October 2024, and again in April 2025.

Another valuable tool I rely on is the Relative Strength Index (RSI)—a momentum oscillator that helps determine whether an asset is overbought, oversold, or in neutral territory. As the chart below illustrates, each time gold reached overbought levels on the RSI over the past year, it entered a healthy consolidation phase before resuming its upward trend. I believe that’s what’s happening now. Even more encouraging is that the RSI currently shows gold is no longer overbought, which indicates that the worst of the recent pullback is likely behind us.

I’ve recently begun tracking gold priced in the World Currency Unit (WCU)—a composite currency based on the GDP-weighted average of the world’s 20 largest economies. In many ways, it offers one of the most balanced and accurate reflections of gold’s true global performance, which is why I’ve been paying close attention to it.

Gold priced in World Currency Units (WCUs) clearly demonstrates that its uptrend remains strong, with a well-defined trading range between 2,400 and 2,600 that’s important to watch closely:

Next, let’s take a look at silver using COMEX futures, which tend to respect key $1 increments—such as $30, $31, and $32—as notable support and resistance levels. For the past year, silver has been trading sideways, capped beneath the critical $32–$33 resistance zone, followed by a secondary ceiling at $34–$35.

The good news is that silver recently broke above the $32–$33 zone—a sign of strength. The next key test is a decisive close above the $34–$35 zone, which would signal that silver is finally ready to launch into a sustained bull market, much like gold has done over the past year. 

I’ve also been highlighting that silver has recently been trading within a range between $32 and $34. A bullish breakout above the $34 resistance level would be a strong confirmation that further gains are likely to follow.

One of the key tools I’ve developed is the proprietary Synthetic Silver Price Index (SSPI)—an indicator designed to validate silver’s price action and help filter out potential fakeouts and false breakouts. 

The SSPI is calculated as the average price of gold and copper, with copper adjusted by a factor of 540 to ensure gold doesn’t disproportionately impact the index. Remarkably, despite silver not being an input, the SSPI closely mirrors silver’s price movements.

Interestingly, the SSPI is currently consolidating within a range between 2,800 and 3,000. A breakout above the 3,000 resistance level would serve as a strong bullish signal for silver as well. I’ll be watching this development closely and will keep you all updated as it unfolds.

Next, let’s turn to gold mining stocks, as tracked by the popular large-cap VanEck Gold Miners ETF (GDX). Notably, GDX recently broke above the $42–$46 resistance zone I’ve been highlighting—a strong signal that gold miners are finally coming to life.

Even more encouraging, it successfully retested that zone as support and bounced, passing that technical test with flying colors. Assuming gold breaks out of its current consolidation, GDX is well-positioned to follow it higher.

Junior gold mining stocks, as represented by the GDXJ ETF, have shown a similar pattern as GDX—breaking out above the $50–$60 zone and successfully retesting it as support. That’s a solid technical sign and further confirmation of growing strength in the mining sector.

Next, let’s take a look at silver miners through the lens of the SIL ETF. It’s still trading within its $38–$43 resistance zone but is showing signs of attempting a breakout. If and when that breakout occurs—especially in tandem with a breakout in silver—I believe silver mining stocks will really shine. 

These miners are essentially leveraged to the price of silver, which means their upside potential is even greater than silver itself once the silver bull market gets underway.

Silver junior mining stocks, as represented by the SILJ ETF, are currently trading within a range between $10 and $13. A breakout above the key $13 resistance level is the signal I’m watching for—it should mark the beginning of a strong rally or even the next major bull market phase.

Finally, let’s take a look at the U.S. Dollar Index, which typically trades inversely with commodities like gold and silver. 

The index has been hovering around the critical 100 level, producing false breakouts both above and below. Now that it’s trading back below 100, the odds favor continued dollar weakness—a potential tailwind that would help propel gold and silver out of their current trading ranges and into their next rally phases.

To summarize: although gold and silver have been relatively quiet lately, don’t mistake that for weakness. The reliable indicators I track show they’re simply consolidating and gathering strength for another potential move higher. 

That said, confirmation will come only with the breakouts I outlined in this analysis. It’s also worth noting that gold may be consolidating for a similar length of time as it did last summer, given the parallels I’ve highlighted. 

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A federal trade court blocked a large piece of President Trump’s tariff agenda in a ruling Wednesday.
An appeals court temporarily paused that order on Thursday.
Even if the lower court’s ruling holds, the average household would lose $950 of purchasing power in 2025 as a result of tariffs that remain on the books, on products like steel, aluminum and automobiles, according to a Yale Budget Lab analysis.
The Trump administration has signaled more tariffs may be coming for pharmaceuticals, semiconductors, copper and lumber.

President Donald Trump holds a chart as he announces a plan for tariffs on imported goods during an event April 2, 2025, in the Rose Garden at the White House.
Demetrius Freeman/The Washington Post via Getty Images

The fate of many of President Trump’s tariffs is uncertain after a string of court rulings this week.
But even if a court block on country-specific tariffs is upheld, others that would remain on the books — for products like steel and automobiles — are still expected to cost consumers almost $1,000 a year, according to a new analysis by the Yale Budget Lab.

“It does pinch” consumers’ wallets, said Ernie Tedeschi, director of economics at the Yale Budget Lab and former chief economist at the White House Council of Economic Advisers during the Biden administration.
Tariffs are a tax paid on imports, paid by U.S. entities importing the good. Businesses are expected to pass on at least some of those costs to consumers.
However, the dollar impact of those remaining tariffs is “a far cry” from what it would be if the country-specific tariffs were to remain, he said.
The U.S. Court of International Trade on Wednesday blocked country-specific tariffs, including a 10% baseline tariff on most nations and separate levies on Canada, Mexico and China tied to allegations of fentanyl trafficking.
A three-judge panel found Trump exceeded his authority by invoking the International Emergency Economic Powers Act to impose those import duties.

An appeals court temporarily paused the order on Thursday as it reviews the case.

Steel, aluminum auto tariffs remain

However, 25% tariffs on steel, aluminum, automobiles and auto parts are still in place, with some carve-outs, as well as certain tariffs on China imposed during Trump’s first term and expanded during the Biden administration, Jennifer McKeown and Stephen Brown, economists at Capital Economists, wrote in a note Thursday.
Those tariffs were imposed using different legal authorities.
If the lower court’s order holds, those remaining tariffs would cost the average household $950 of purchasing power in 2025, according to the Yale Budget Lab analysis published Thursday. That amounts to a 0.6% increase in consumer prices, it found.
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Another way consumers can view this legal development: The initial court ruling, if upheld, would save households more than $1,800 this year, said Tedeschi.
That’s because the average household would lose about $2,800 in 2025 if the country-specific tariffs were to stay on the books, Tedeschi said.
In that case, consumer prices would rise about 1.7% this year, he said.

McKeown and Brown estimate the court ruling would lower the effective tariff rate to 6.5% from 15%. It was 2.5% at the start of the year, they said.
“The most direct impact” of the remaining tariffs will be on car buying, Tedeschi said. Car prices would likely rise about 8% this year and 5% over the longer term, he said.
But steel and aluminum are inputs in a swath of consumer products, from homebuilding to household appliances.

Not necessarily ‘the end of things’ for tariffs

The Supreme Court may be the final arbiter for Trump’s country-specific tariffs, a process that may take “many months,” according to McKeown and Brown.
Additionally, “it would be unlikely to mark the end of the tariff war given the various other routes through which the Trump administration could impose tariffs,” they wrote.
The Trump administration has also signaled an intent to put duties on additional products like pharmaceuticals, semiconductors, copper and lumber.
Yesterday’s court decision was a “landmark ruling,” Tedeschi said. “I don’t expect it’ll be the end of things.” Continue reading →

(Bloomberg) — Underwhelming US growth and labor reports weighed on the dollar Thursday, amplifying investor uncertainty over the economic outlook … Continue reading →

Gold and silver futures have fallen roughly 4% from their highs this year. Photo: Getty Images Gold’s record run has … Continue reading →

Gold prices at session highs after U.S. weekly jobless claims rise to 240k | Kitco NewsBUY/SELL GOLD & SILVERBullion Coins and BarsPrecious MetalsAll Metal QuotesCryptosBase MetalsMarketsMiningNewsAbout Continue reading →

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