Category Archives: silver-rounds

Raoul Pal discussed his bullish outlook on Bitcoin, the S&P 500, and gold, while emphasizing the profound impact of AI. … Continue reading →

Gold has been consolidating since the U.S. presidential election, but it may soon be poised to resume its upward climb. … Continue reading →

Gold prices were rising in early trade as traders await key U.S. inflation data for more clues abut the path of monetary policy.Futures were up 0.2% to $2,684 a troy ounce, boosted by a softer dollar and concerns over the impact of potential U.S. trade tariffs on inflation after President-elect Donald Trump takes office.Prices fell in the previous trading session amid a stronger dollar and rising Treasury yields, but the long-term outlook for gold remains positive. Continue reading →

Excerpt from this week’s: Technical Scoop: Volatile Chaos, Underrated Jobs, Wildfire SparkOn the week, gold rose 2.3%, silver was up 4.1%, platinum and palladium showed some life, both up 5.0%, while copper gained 5.7%. A good week for the precious metals. Also great were the gold stocks as the Gold Bugs Index (HUI) rose 3.1% and the TSX Gold Index (TGD) was up 2.8%. Gold has been gaining on all the currencies as well, primarily due to the strength of the US$ Index. Gold in Cdn$ rose 2.1%, in euros up 2.9%, Swiss franc up 3.2%, pound sterling up 4.1%, and Japanese yen up 2.6%.

Gold still needs to regain above $2,740/$2,750 to suggest to us that we should see new all-time highs above $2,802. We thought we had completed a potential five-wave advance to the October high at $2,802. The subsequent pattern appears to have taken on the shape of an ABC flat correction. But only new highs above $2,802 can confirm the pattern. Next targets then could be $3,050, once they are through $2,802. We are always reminded that gold does have some positive seasonals during this time, usually topping out during the Prospectors and Developers Association of Canada (PDAC) annual get-together on March 2–5.

But gold rising against a strong jobs report, rising bond yields, and a rising US$ Index we have to view as positive for higher prices.

Source: www.stockcharts.com

Like gold, silver had a good week. With a gain of 4.1% this past week, silver outpaced gold. Silver is now up 7.1% in 2025 vs. gold up 2.8%. That is a positive development as we need to see silver leading if we are to go higher. But the reality is silver is a lot further from telling us we should see new highs than gold is. We believe we have to break above $34 to suggest new highs above the October high of $35.07. We also have downtrend line resistance just above at $32.00. The 50-day MA stopped our advance this past week. Other encouraging signs were the higher low we saw on December 31 that was above the one seen on December 14. Despite the good week and start to 2025, silver still lags. Gold is within calling distance of further new all-time highs. Silver, on the other hand, still seems a long way from $50 and the highs of 1980 and 2011. On an inflation-adjusted basis, we’d have to reach $67 to equal 2011 and $175 to equal the 1980 high. A lot of work to be done. Support is down to $29.50 with interim support at $30. We could be forming an ascending triangle, so a breakout over $35.50 could project us up to $44.00. Interim stop would be at $39/$40.

Source: www.stockcharts.com

We suppose we should be encouraged by the rise in gold stocks so far in 2025. So far, they’ve been the big winners with the Gold Bugs Index (HUI) up 6.5%, including the 3.1% gained this past week, and the TSX Gold Index (TGD) up 6.7%, including the 2.8% gain this past week. That’s encouraging, but don’t get too excited just yet, as there is resistance above, first at 375 for the TGD and then at 400 and 415. Above 400, new highs could be seen. The all-time high set in 2011 remains at 455. Because of inflation, we’d have to get to 610 to equal that lofty level. We did break a small downtrend from the October high so that is encouraging. But we note we stopped this past week at the 100-day MA. The recent low at 332 should hold on any pullback with interim support at 340/345. The pattern is encouraging as we see gold stock prices (TGD and HUI) going higher.

Read the FULL report here: Technical Scoop: Volatile Chaos, Underrated Jobs, Wildfire Spark

Disclaimer

David Chapman is not a registered advisory service and is not an exempt market dealer (EMD) nor a licensed financial advisor. He does not and cannot give individualised market advice. David Chapman has worked in the financial industry for over 40 years including large financial corporations, banks, and investment dealers.  The information in this newsletter is intended only for informational and educational purposes. It should not be construed as an offer, a solicitation of an offer or sale of any security.  Every effort is made to provide accurate and complete information. However, we cannot guarantee that there will be no errors. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the contents of this commentary and expressly disclaim liability for errors and omissions in the contents of this commentary.  David Chapman will always use his best efforts to ensure the accuracy and timeliness of all information. The reader assumes all risk when trading in securities and David Chapman advises consulting a licensed professional financial advisor or portfolio manager such as Enriched Investing Incorporated before proceeding with any trade or idea presented in this newsletter. David Chapman may own shares in companies mentioned in this newsletter. Before making an investment, prospective investors should review each security’s offering documents which summarize the objectives, fees, expenses and associated risks.  David Chapman shares his ideas and opinions for informational and educational purposes only and expects the reader to perform due diligence before considering a position in any security. That includes consulting with your own licensed professional financial advisor such as Enriched Investing Incorporated.   Performance is not guaranteed, values change frequently, and past performance may not be repeated.  Continue reading →

Visual Capitalist, a publisher known for its amazing economics-focused infographics, recently released an eye-catching infographic titled “Could Copper Be the Next … Continue reading →

Gold softened early Monday as investors continue to digest Friday’s jobs report and the boosted dollar while awaiting this week’s … Continue reading →

BANGKOK (AP) — European shares opened higher on Friday and Asian stocks retreated after U.S. markets were closed to observe … Continue reading →

Gold aiming for best week in seven while hitting a four-week peak on Friday, boosting on safe-haven demand driven by … Continue reading →

It’s only the 9th of January, but looking at the headlines, it feels like we’re already deep into the year. From devastating environmental crises to a President-elect already reshaping US foreign relations, and a bond market sell-off, the world is off to a tumultuous start.

Today, the United Nations Department of Economic and Social Affairs (UN DESA) will release the 2025 edition of its World Economic Situation and Prospects report. As has become a recurring theme, the authors highlight a significant gap between the story the numbers tell and the underlying realities. This year’s report focuses on critical minerals, a crucial topic as the world undergoes a major energy transition. Regular readers and investors will recognise the pivotal role of silver in green energy technologies, and we’re keen to see how this precious metal features in this year’s findings.

Also today, the World Gold Council released its December market commentary. While gold surrendered some of its gains at the end of the month, 2024 was an extraordinary year for the yellow metal. Gold closed the year 25.5% higher, with the LBMA Gold Price PM setting 40 new all-time highs over the course of the year.

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On another note, we’re excited to share our latest interview with precious metals market stalwart David Morgan, also known as the Silver Guru. Recorded just before Christmas, David shares his outlook for gold and silver in the year ahead. We discussed why silver is currently lagging behind gold, the key factors influencing its price, and his thoughts on the broader economic picture, including real inflation, the Fed’s recent rate cuts, and Bitcoin’s evolving role in the financial landscape alongside precious metals.

David is the CEO of GoldCore.

Until Summer 2023 he was the Director of Marketing and Communications, responsible for all marketing and communications strategies and branding.

David joined GoldCore in 2008 as Director of Business Development and later took over as Director of Marketing and Communications in 2020.

Prior to this Dave managed and operated his own Marketing Agency and completed multiple coaching qualifications.

“Working for GoldCore gives you a fantastic lens through which to view global financial and geopolitical developments. I am very proud to be part of a company that contributes to increasing investors understanding of these developments.”

When he’s not at work, David is passionate about sailing and has completed the ‘Round Ireland Yacht Race’ twice. Continue reading →

Silver is making a strong comeback at the start of 2025, following a challenging year-end performance in 2024. 

There is good reason to suspect that bullion banks have deliberately driven gold and silver prices lower at the close of 2024 to “paint the charts” and influence the yearly closing prices. 

This tactic seems plausible, given the solid gains in gold and silver posted throughout the year—26% and 21%, respectively. With the new year underway, the stage is set for the gold and silver bull market to regain momentum and potentially exceed last year’s performance.

Although silver broke below its uptrend line on December 18th, it appears to have formed a double bottom and rebounded off the downtrend line that began in May. 

To confirm that the sell-off is truly over and silver’s rally is ready to resume, I would like to see it close back above the uptrend line, effectively negating the December 18th breakdown. Following that, a convincing close above the $32–$33 resistance zone—an area that has posed a significant challenge for the past seven months—would strengthen the bullish case. 

If silver can sustain a close above this key level, it should pave the way for a rally to $35, $40, and ultimately higher.While silver has remained stagnant since late October, there’s reason to believe this is merely another consolidation phase, similar to those seen a year ago and during the past summer. 

If history repeats itself, and a breakout occurs, silver could be poised for another strong rally, just as it did following the previous consolidation periods.I closely monitor gold, as it, along with copper, plays a significant role in influencing silver prices. 

Currently, COMEX gold futures are trading within a range of $2,550 to $2,800. To confirm that gold’s bull market has resumed, a decisive, high-volume close above both the triangle pattern and the $2,800 resistance level is necessary. 

Such a breakout would likely propel gold to $3,000 and beyond in short order, which would prove very beneficial for silver as well.In addition to gold, I closely monitor the price of copper, as it significantly influences silver’s performance. 

For silver to gain meaningful bullish momentum, a strong rally in copper is likely necessary. Currently, copper is hovering near its key $4 support level, and a rebound from this point would be a positive signal. If copper can successfully rally, the next critical test will be the $5–$5.20 resistance zone. 

A decisive close above this range should ignite a powerful copper bull market, which would likely have a favorable impact on silver prices.I’ve developed an indicator to help confirm price movements in silver, called the Synthetic Silver Price Index (SSPI). 

This index combines the average prices of copper and gold, with copper adjusted by a factor of 540 to prevent gold from disproportionately influencing the index. The SSPI closely mirrors silver’s price movement, even though silver itself is not an input. 

The encouraging news is that the SSPI has just bounced off its uptrend line, signaling underlying strength. The next key step is for the index to achieve a decisive close above the 2,600–2,640 resistance zone, which would provide a strong bullish signal for silver.Though silver investor sentiment is currently quite negative, it’s important to step back and focus on the bigger picture, which remains very positive. 

The 200-day moving average of silver prices, which smooths out short-term volatility, is at its highest level since 2013. 

Trends in motion tend to persist, suggesting that this underlying strength is likely to carry into 2025 and beyond.Silver is still on track to break out of its multi-decade cup-and-handle pattern, paving the way for it to reach several hundred dollars per ounce:As silver gains momentum, I anticipate silver miners will thrive, despite their recent struggles. This lag is likely due to silver’s long-term bull market still being in its early stages. 

It will take some time for investors to recognize how undervalued silver mining stocks truly are—but when they do, these stocks are poised to soar. 

Although silver stagnated at the end of 2024, the new year brings plenty of reasons for optimism. Most investors are currently underestimating silver, overlooking its strong overall performance over the past year and dismissing the fact that its bull market is just beginning, with significant potential ahead. 

Now is the time to remain confident and focus on the opportunity that lies ahead.

Personally, I am highly optimistic about silver’s prospects, and the widespread negativity surrounding it only strengthens my conviction from a contrarian perspective—after all, the crowd is typically wrong. Continue reading →