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Gold's 200-day moving average forms a confluence with a descending trendline extending from late January 2026 at around $4.5k, thereby creating a strong resistance level.
While most expect gold to sell-off from $4.5k,my favored scenario is that it pushes up to $4.9k first and then sells-off to test 200-day moving average at $4.5k. However, we should be open to a possibility of gold facing a stronger resistance at $4.5k.
If my favored scenario materializes, I expect gold to top by 3rd week of August (reach $4.8 - 4.9k) and consolidate its gains throughout September. Another leg up could start by early October taking gold to my $7-8k target by first quarter 2027...
Gold is within advancing mode after 6 months of declining. Immediate resistance comes at $4.5k, which is once cleared opens up a way until $4.9k. Overall I expect gold to start breaking out to all time high by late 2026...
Silver fell 23% in June and traded flat in July. I think silver is going to recover June decline in August entirely. If so, minimum target is $77, which is very close to my $80 price target...
Junior silver miners SILJ has a potential to rally 20% before it pauses to consolidate. May 13 top could act as immediate resistance. I expect SILJ to reach $35 mark by 3rd week of August if my preferred scenarios materializes...
If gold pushes up to $4.9k, which is 12% from present price level, then silver's next target could well be $80, which is within 26% from present price level...
Silver regains initial resistance at $63 without much effort. If it manages to hold its breakout, then next major resistance comes at around $80 mark...
Decisive breakout in gold from a 6-month consolidation was fully supported by miners. Over the passing week gold gained 6.5% while senior gold miners GDX added 21%. After a prolonged suppression, miners made 3 times as much as gold, which is a bold statement in itself...
In late August 2025, junior silver miners SILJ broke out from a triangle shape formation and more than tripled (+220%) within 8 months.
SILJ once again broke out in August of 2026 and within the passing week only gained 21%. Looks like silver miners SILJ has a potential to triple once again by early 2027...
Gold decisive breakout from a 6-month bullish descending wedge looks beautiful. Initial resistance comes at $4.5k, which is once cleared opens a way towards all-time high...