The best performing precious metal for the past week was silver, up about 3.6%. The metal has gained nearly 22% in the past month, previously hitting $50 an ounce in 1980 and 2011.
Within wave (iv) we completed wave -a- at the 3886.50 low and it now looks like wave -b- is still underway, although it could now be complete at the 4265.70 high.
The gold rally of 2025 was put on pause this past week. Overall, gold fell a small 0.5% while silver continued its big run, up 3.5% to new all-time highs.
Ira Epstein discusses the current state of the metals market, focusing on gold and silver, while also touching on the broader economic context influenced by the Federal Reserve's anticipated interest rate cut.
Now with those delayed CoT reports slowly trickling out, gold’s narrative is being rewritten. This stunning revelation really ups the odds for another gold high consolidation.
Ira Epstein covers upcoming economic data releases, including personal income and spending reports, the PCE price index, and the University of Michigan's consumer sentiment indices.
