We have been the first to call "Quadruple Digit #Silver" by 2034.
If you factor in Silver's nominal ATH in 1980 at $49, it would equal approximately:
Adjusted M2 growth 15 X = $680 oz
Adjusted for inflation (CPLie) = $208 oz.
Use sub $90 spot, to obtain Physical Silver as TUOs (Top Up Opportunities). Your last chance window is closing Q1/2026 - that I believe is another Cup & Handle forming .......
https://t.co/robyniAtuH
No need to panic yet on #Gold or #Silver.
The Bull Structure remains in place.
The Momentum is down as stated over the last weekend, BUT - as long as Gold regains the IchCloud as below, we could be back in the race by the end of July 2026.
https://t.co/wUlacohNmw
Weekly Recap
Current (Last Week) -- (% from ATH | ATH)
AU: $4,328 ($4,543) -- 22% from ATH ($5,608)
AG: $67 ($75) -- 44% from ATH ($121)
HUI: 674 (763) -- 31% from ATH (986)
DXY: 100 (98)
S&P 500: 7,383 (7,530) -- -2.5% At ATH (7580)
10-Year: 4.5% (4.4%)
The S&P was overdue for a correction after 9 consecutive weeks of gains. Is this the top? I doubt it. The AI trade probably wants to run a bit higher, but a crash is coming IMO.
As I have explained, when the S&P gets whacked, usually gold/silver/miners are collateral damage. SILJ was down 11% today. GDXJ was down 10%. South Korea (Kospi) was down 5% last night and bled over to New York. The sellers showed up. Ouch, the bull bucked hard today. It is becoming very difficult for the non-believers to stay on the gold/silver/miner train. The HUI is down 31% from its ATH in January. That’s a sharp knife. I hope you loaded up on Band-Aids. Anyone who has been buying this correction has been getting cut.
Bull markets are difficult to trade and difficult to know when to enter. Trying to buy bottoms is impossible, but you can buy to the bottom, which I think is a good strategy. We will likely go lower at some point this year. My cycle low targets are $4000 gold (+/- 5%) and $55 silver (+/- 10%). So, we are close to the bottom, and those bottoms will not last long. Some TA guys think we could see $3500 gold and sub $50 silver. Perhaps, but I expect gold to get a bid before we get that low.
As for the war in Iran, I continue to feel confident that Trump has decided not to escalate bombing, other than minor skirmishes. So, essentially, the war is over, and Iran controls the Strait. Now we wait to see how that unfolds. When does Trump drop the blockade and go home? Stay tuned. It could be weeks, or it could be months. Trump keeps telling us a deal is near. My guess is that Trump knows he has to leave and wants some type of concession from Iran before he leaves. He is negotiating that concession.
Recently, Judy mentioned GBB (#Gold Backed Bonds) in 2026 and a Special Date would be used!
Meanwhile, Central Banks are still buying #Gold because they understand the fiat system is weakening. Gold and #Silver are a bridge between the old fiat system and whatever digital monetary system comes next.
Precious Metals are not really investments. They are wealth insurance, purchasing-power protection, and tools for freedom. As David Morgan states:...
"I doubt the current system makes it to 2030 without some kind of major monetary reset".
I said last December, that 2026 would be a wild, volatile year - with plenty of twists and turns - an ability to be both nimble and tolerant would be needed. How right I was ... and it's only June!
Aren't "Circuit Breakers" breaking any longer?
https://t.co/robyniAtuH
2 years ago, on June 13th, 2024, Judy Shelton said to “stay tuned” for July 4th, 2026.
Is something going to happen on this day thats been in motion for years?
Something like a #gold revaluation or gold bonds?
Dont say they didnt warn you.
https://t.co/kQhflQjn8Z
Stocks are dumping.
Gold is dumping.
Silver is dumping.
Crypto is dumping.
Bonds are dumping.
Even Oil is dumping.
If everything is dumping, where the hell is money going?
The supply-side news for #Silver has been getting worse for months, not better. Yet the price today is getting smashed. Are we worried? NO!
Remember, what you are seeing is the PAPER PRICE - not the physical metal prices.
Stackers will be rejoicing re Silver, and although Big Bro #Gold has been hit hard as well today, it is at Bargain levels not seen since 23rd March 2026.
https://t.co/robyniAtuH
We are coming into my levels. Hope you’re not too afraid.
Just remember the long-term case for Gold & Silver.
Recent price action will just be dust in the wind at some point & scheduled buying always wins!
As Alasdair MacLeod says: ....... "We discourage trading #Gold and #Silver, insisting on stacking in the knowledge that the risk is in currencies and credit and not Precious Metals.
Current investor sentiment obscures the brutal facts facing the fiat currency world. Anyone who gets upset about losing money day-to-day by holding Gold and Silver are suffering from extreme myopia and prey to the real professionals such as central banks and market-makers, who play on investor sentiment - to get you to sell your PMs to them.
Hold Fast!...."
https://t.co/robyniAtuH
The much talked about #UBI (Universal Basic Income) would likely destroy #USD value, because it would require massive money printing.
The M2 at US$ 23.2 TRILLION just keeps on a rising!
Got #Gold#Silver?
https://t.co/wUlacohNmw
FIAT CURRENCIES ARE IN AN ETERNAL BEAR MARKET: The USD Is Down 99.24% Against Gold Since 1971 and the Rate of Decline Is Accelerating! https://t.co/rCroulVFzg
David Brady has just produced excellent info....
...."It’s not been announced by the mainstream financial media, but China just cornered the #Silver market with the biggest purchase of physical Silver in history, by far. They bought 847 tons of Silver in ONE month. Previous monthly record, 312 metric tons, in March 2024. And they didn’t use USD or any of the exchanges (Comex, LBMA) to do so - they went to direct to the miners in Peru, Mexico, Chile, and Australia, so that they would not push up the price of Silver internationally".
Try as they might to smash Ag below $70, buyers are buying the dip. $71.28 oz spot was the lowest da Boyz could achieve.
The battle between $69-$79 continues!
Our Q3/26 new ATH target $130.
https://t.co/robyniAtuH
I respectfully disagree with the conclusion that this means retail is weak.
This indicates to me that the @usmint had no eagles to sell in May.
Its as simple as the Mint is bad at their job.
The Mint has #silver for sale at $169 an oz.
@APMEX, feel free to chime in.
🚨 WARNING: AI BUBBLE IS ABOUT TO BURST
Microsoft gave OpenAI $13 BILLION.
OpenAI sent it back through Azure.
Microsoft booked it as revenue.
Amazon and Google are running similar loops with Anthropic while marking up huge paper gains from AI valuations.
OpenAI is spending over $60 BILLION a year on compute while generating only $25 BILLION in revenue.
Ray Dalio has warned that late stage bubbles are driven by fake flows, not real economics.
That is exactly what this is starting to look like.
Will rotation from Risk ON to Risk OFF plough into #Gold and #Silver Q3/2026? We believe so.
Broadcom shares just sank 13% and dragged the entire chip sector with them as the company missed on Q2 revenue. Will AI eventually turn out like Tulip Mania?
Back in 2009 it was $1.43!
https://t.co/robyniAtuH
Gold is sitting right at its 200-day moving average.
Yes, the last time we were here turned out to be a great buying opportunity…. but I try not to get too fixated on technical levels alone.
What stands out to me is how dramatically sentiment has shifted.
Just a few months ago, gold was one of the market’s favorite trades.
Today, it feels almost completely forgotten.
Not to steal from Buffett, but I'm starting to get greedy while others are becoming fearful.
https://t.co/P4sfxoqBM9
WARREN BUFFETT JUST SAID SOMETHING HE ONLY SAID ONCE BEFORE.
Right before markets crashed 78%.
1999: "Euphoria is the enemy."
Walked away. Result: Dot-com crash. Down 78%.
2026: $400B in cash. Zero purchases.
"Worse than 1999."
Michael Burry: $1B short on AI.
Warren Buffett: $400B in cash.
Two of the greatest investors alive. Same year.
Same warning. Same answer.
Cash.
Not stocks.
He has been right every single time.
He just gave the warning again.
Are you listening?
As David Morgan has always said, #Silver is not for the faint hearted...."It will either wear you out, or scare you out ...."!
Today, the usual "short" suspects of #JPM, #HSBC, #UBS, #DB, #BNS and #BCS may well have had their hands on the "spoofing key" again. As soon as it reached above $73.75 there was a panic to avoid north of $75.
It reached $75.08 then SLAM. Last 3 hourly candles have been indecision doji candles.
Starting to climb again now towards $75 .... they will want to keep it below $75 before #NFPR tomorrow at 8.30am ET (12.30pm GMT).
Stronger jobs data would bolster #USD putting more headwinds on Precious Metals.
Weaker jobs data would lead to softer USD and boost a tailwind scenario for Precious Metals.
Got the popcorn?
https://t.co/robyniAtuH
What's Going to Make Silver Suffer
Silver rarely punishes you with crashes. It punishes you with doubt.
After the parabolic climax earlier this year, when the metal brushed up against triple digits, came the correction many feared and few read correctly. Several months on, price is still trapped in an uncomfortable range: it can't break higher, but it won't fully give way either. It rallies for a few days, hands the gains back, tries again. Swings without any clear direction.
And that indecision is exactly the suffering. Not the collapse, that would be quick, almost merciful, but the slow erosion of patience. The market looks directionless because it's doing what silver does best: exhausting whoever showed up late, and testing whoever showed up early.
But there's a read here worth holding onto. The Price Momentum Oscillator has rolled over from extreme levels, there's your warning of near-term pain, and yet it still hasn't broken below zero at any point in the cycle. The same indicator flagging the tactical punishment confirms the underlying trend is still alive.
Ichimoku tells the same story from another angle: price is flirting with the top of a cloud that keeps rising. As long as that support holds, the script is consolidation, not reversal.
The conclusion is uncomfortable because it's honest.
The structure is bullish, but before it rewards you, it's going to demand conviction. Silver doesn't hand you the next leg up, it charges for it in advance, and the impatient are the ones who pay.
@BroadLuis | Miner Alpha Lab
Trends build wealth. Judgment protects it.
#Silver #PreciousMetals #Mining #Commodities #TechnicalAnalysis #Ichimoku
Mid-Week Macro
Not much has changed this week, although gold/silver/miners are all down. Gold is at $4459, down 20% from its ATH. Silver is at $73, down 39%. The HUI is at 725, down 25%. I doubt those are cycle lows for the year. At some point, the S&P 500 will likely crash this year and pull down gold/silver/miners. My cycle low targets are around $4200, $60, and 600. I doubt gold can get pushed below $4000 for very long, or silver below $60 for very long.
Ultimately, we are waiting for two things: 1) The S&P 500 to stop going up, and 2) Gold/silver/miners to put in their next cycle lows. Both won’t happen at the same time, but both events are coming. When? Probably not until Aug/Sep.
Sometime this year, I expect the recession to arrive, whereby gold becomes the winner (and S&P 500 the loser) and the go-to asset. Today, Wall Street is ignoring gold and focusing on AI. That will change at some point.
Trump said today that they are close to signing an MOU with Iran to open the Strait. I think that is unlikely, but I also think it is unlikely that the war will escalate. One way or another, the war is winding down. At least that’s my take. That means we likely won’t get a crash on Wall Street in June or July, which tend to be placid months. It also means that gold and silver will probably be trapped below breakout levels ($5000/$90) because they won’t have a driver (I’ll explain more on Friday).
Very useful chart Don, thanks.
The Kiena Deep High Grade discovery in 2016, led to a full restart of the Quebec mine in 2021 - mine life approx 10 years from then.
https://t.co/wUlacohNmw
Gold is an Insurance Policy against Government's Reckless Policies and Wealth Preservation, rather than an Investment.
In 1933, the price of 1oz #Gold was circa $21.
In 1971 post Aug 15th, it was $42.
In 2024, it averaged $2,386.
To date in 2026, it has averaged $4,150 oz.
Yes, there have been periods of lost Opportunity Costs, but remember - Gold has always been just 1oz. It is the #USD that has lost 96% of it's Purchasing Power since 1933.
Stackers rejoice on Gold and #Silver pullbacks in this Commodities Bull SuperCycle.
https://t.co/robyniAtuH
Don't be put off by the short term price moves in gold. I have never heard of those living in poverty owning gold but I have heard of the middle class being fleeced by holding on to government promises. Think of Argentina, Brazil, Lebanon, Zimbabwe, Germany and the list goes on.