In the face of possible reasons (Iran conflict, inflation fears, etc.), why gold and silver prices should be going up, the price action of both since late January tells a different story.
The correction is expected to end, especially as the PM sector tends to bottom ahead of the broad market when pan selloffs occur. This zone is considered an excellent point to buy silver.
Silver's chart also weakened substantially, although it remains near important longer-term support levels and has not yet confirmed the same degree of structural breakdown seen in gold.
In silver, I suspect that a goodly chunk of the gross short position in the Big 4 commercial category is mostly held by only two traders...both of them U.S. banks...Wells Fargo and BofA. In yesterday's Bank Participation Report, 5 U.S. bullion banks held a gross short position of 12,884 COMEX contracts...down a whole bunch from April -- and their lowest short position on record.
Jp Cortez: “Alaska has a rich gold-related history, and I’m proud to have worked with lawmakers to pass pro-sound money legislation in the Frontier State.”
All bear markets. That’s the bad news but the good news is gold is up 168% from its key 2022 low, silver up 287%, while the TGD is up 258%. Is the glass half full, or half empty?
Silver needs to break over $86 and hold on in further pullback to $65. Nonetheless, the five-point pattern that has formed should be ultimately bullish.
Country Manager Bolivia Uribe: "I look forward to working closely with BP Silver's team to develop the potential of the Cosuño project, which may represent a significant silver discovery."
I speak with Prince Silver's CEO & Director, Derek Iwanaka, about 2026's plans to expand & develop the historic resource with a goal of 100+ MILLION Silver equivalent ounces, milestones ahead and more.
After the first ever drill program showed a mineralized Lithocap, a positive indication that a much larger system exists below, the company raised an oversubscribed financing (CAD$10M+) and proceeded to do additional field work in preparations for a Phase II and III drill program in the coming months.
