Category Archives: Silver Rounds

(Bloomberg) — Asian stocks traded in a tight range Wednesday as investors searched for a clear direction amid weaker US … Continue reading →

China courted the executives of major U.S. businesses at an annual conference this week — a sign of how Beijing seeks to offset trade pressures, rather than retaliate forcefully.
Chinese attendees weren’t that focused on what can be done to respond to U.S. tariffs, Stephen Roach, senior fellow at Yale Law School’s Paul Tsai China Center, told CNBC.
At this week’s conference, China was trying to send a message of “reassurance” — on how it plans to boost consumption and how the country is headed in a “modestly positive direction” relative to what is happening in the United States, said Scott Kennedy, senior advisor and trustee chair in Chinese business and economics at the Center for Strategic and International Studies.

Attendees pose for a group photo before the opening ceremony of the China Development Forum 2025 at the Diaoyutai Guesthouse on March 23, 2025, in Beijing.
China News Service | China News Service | Getty Images

BEIJING — China courted the executives of major U.S. businesses at an annual conference this week in a sign of how Beijing seeks to offset trade pressures, rather than retaliate forcefully.
China has long sought to attract foreign investment as a way to bolster growth, while tapping business interests for potential influence on the White House, particularly under U.S. President Donald Trump. The U.S. has twice increased tariffs across all Chinese goods since January, but Beijing has only announced targeted duties and restrictions on a handful of American companies.

Conversation on the sidelines of the state-organized China Development Forum this week in Beijing reinforced a more conciliatory stance than official rhetoric this month about how China is prepared to fight “any type of war” with the United States.
Chinese conference attendees weren’t that focused on what can be done to respond to U.S. tariffs, Stephen Roach, senior fellow at Yale Law School’s Paul Tsai China Center, told CNBC.
“The questions I’ve been getting more [are], why is Trump doing this? What is he trying to achieve? What does he think it takes to really make America great?” Roach said. He has attended the event since the early 2000s.

“My answer is this is an unprecedented period for America’s role in the world economy. We’re going back to a tariff regime that history tells us can be extremely destructive,” Roach said, adding he expects more policy uncertainty in the U.S. and around the world “for a long, long time.”
U.S. stocks have swung in recent weeks as investors try to assess the economic impact of Trump’s changing plans for tariffs on major U.S. trading partners. U.S. Federal Reserve Chair Jerome Powell last week said tariffs could delay progress on lowering inflation in the U.S.

A message of ‘reassurance’

At this week’s conference, China was trying to send a message of “reassurance” — on how it plans to boost consumption and how the country is headed in a “modestly positive direction” relative to what is happening in the U.S., said Scott Kennedy, senior advisor and trustee chair in Chinese business and economics at the Center for Strategic and International Studies, a think tank based in Washington, D.C.
If the U.S. imposes significantly large tariffs in early April, “then you go from managing costs and de-risking to possibly de-coupling,” Kennedy told CNBC. “And then that might mean the game is up. So I think the level of anxiety is pretty high. And that’s why China is trying to provide this message of reassurance.”
The Trump administration has threatened a swath of new tariffs on major trading partners starting early April. China has increased its trade with Southeast Asian countries and the European Union, but the U.S. remains Beijing’s largest trading partner on a single-country basis.
The China Development Forum ran Sunday and Monday. Apple CEO Tim Cook was among the executives who attended, but Tesla CEO Elon Musk was not.
“The increased optimism this year compared to last year at the CDF has been just so heart warming,” Ken Griffin, CEO of hedge fund Citadel, said during an official panel at the forum.
Trump “is committed to American companies having access to a global market,” Griffin said. “And the President is willing to use tariffs to seek to enforce this worldview.”

First step toward Xi-Trump meeting?

Also on Sunday, U.S. Republican Senator Steve Daines met Chinese Premier Li Qiang in Beijing — the first time a U.S. politician has visited China since Trump began his latest term in January.
“This was the first step to an important next step, which will be a meeting between President Xi and President Trump,” Daines told the Wall Street Journal. “When that occurs and where it occurs is to be determined.”
The White House did not immediately respond to a request for comment.
Li urged cooperation and said no one can gain from a trade war, according to state media.
FedEx CEO Raj Subramaniam, Boeing Senior Vice President Brendan Nelson, Cargill CEO Brian Sikes, Medtronic CEO Geoffrey Martha, Pfizer CEO Albert Bourla, Qualcomm CEO Cristiano Amon, UL Solutions CEO Jennifer Scanlon and U.S. China Business Council President Sean Stein were also present at Daines’ meeting with Li, according to a foreign media pool report.
China, the world’s second-largest economy, remains a significant source of revenue for many multinational corporations, not to mention a major part of their supply chains.
Despite its efforts to bolster international business ties, the country has warned of countermeasures on U.S. tariffs and taken incremental steps.
Following U.S. sanctions on Chinese telecommunications giant Huawei during Trump’s first term as president, Beijing launched an unreliable entities list that restricts foreign business activity with China.
China added Calvin Klein parent PVH and a few other U.S. companies to the list after this year’s tariff increases. On Monday, China also said it would soon reveal new measures that would give it a legal basis for countering foreign pressure.

Economic factors

For U.S. companies in China, the state of the economic recovery has also been an important factor for local business plans.
Since late September, China has stepped up efforts to support the economy. Top policymakers earlier this month affirmed stimulus plans and a recent effort to encourage private-sector tech entrepreneurs in the wake of DeepSeek’s artificial intelligence breakthroughs.
“This year, you feel a lot of positive momentum beginning in China. So I feel like recovery is underway,” Wendell P. Weeks, CEO of Corning, told CNBC.
However, China’s economy has struggled with deflationary pressure and a real estate slump, weighing on regional growth prospects for international businesses.
Even Beijing’s push to support high-tech manufacturing has so far only added an average 1.1 percentage points to gross domestic product growth in each of the last three years — not enough to offset the 1.7 percentage point drag from real estate during that time, according to Goldman Sachs estimates.
“We will remain optimistic because the role of technology is important, I think more than ever,” Qualcomm’s Amon told CNBC. “I think technology is going to be part of economic growth.” Continue reading →

Summary Is the correction over? To determine that, we need to see evidence of buyers re-entering the market to absorb … Continue reading →

(Bloomberg) — Gold (GC=F) edged higher, as bullion-backed exchange-traded funds continued to see big inflows, adding the most in more … Continue reading →

(Bloomberg) — Wall Street’s brief rally looked set to falter on Tuesday, sapped by President Donald Trump’s latest tariff threats … Continue reading →

Gold steady near record levels early Monday on haven demand from investors seeking protection against geopolitical and economic risk even … Continue reading →

When it comes to investing in precious metals, silver might be an afterthought, given gold’s run to record intraday highs … Continue reading →

By Patturaja Murugaboopathy (Reuters) -Funds that invest in gold miners are set to attract their largest net monthly inflows in … Continue reading →

The U.S. stock market is having a tough time amid trade-war fears. Investors should stick with equities over the long term but those looking for a near-term buffer should go for gold instead of Treasury bonds, according to BlackRock.“We stay overweight U.S. stocks as policy uncertainty should ease over a six- to 12-month horizon. We don’t see long-term bonds as reliable portfolio diversifiers, even if growth suffers, given persistent deficits and inflation,” wrote Jean Boivin, head of the BlackRock Investment Institute, in a research note.Mostly, the counsel is against panic. Despite the S&P 500’s fall into correction territory, BlackRock notes earnings are expected to grow 12% this year, barely down from 14% last September. Meanwhile in the hard-hit technology sector, margins, earnings and revenue forecasts are holding up and free cash flow is at 30% of sales, the highest share since 1990. Continue reading →

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(Reuters) – U.S. stock index futures struggled for direction on Tuesday ahead of the Federal Reserve’s upcoming meeting that will … Continue reading →

Excerpt from this week’s: Technical Scoop: Temporary Rallies, Stagflation Possible, Precious Recognition

Source: www.stockcharts.com

Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments. The result was a 3.0% gain for gold this past week and a close at the magical $3,000. Normally we’d have to say that these landmark points are points of resistance. We saw it at $1,000 and $2,000. We’d break through, then there’d be a pullback, sometimes a spooky one. There are a lot of nervous nellies on this ride and they’ll hit sell on any little down gyration. With an RSI at 66 we seem to have room to move higher. But then the current RSI is diverging negatively with the one seen earlier when gold hit $2,974. Then there was a 4.5% drop. Nothing goes straight up. A choppy rise is preferable to a straight up rise. We could be forming what appears to us as a potential rising wedge triangle or ascending wedge triangle. We seem to have room to get to $3,050 or even $3,100 before pulling back. The triangle appears to break down under $2,925 and if that happens it could take us down to $2,760.

Other precious metals rose this past week. Silver was up 4.9%, while platinum gained 4.8% and is back over $1,000. Near precious metals saw palladium up 1.9% and copper gaining 4.0% as it marches towards $5.00. The gold stocks gained as the Gold Bugs Index (HUI) was up 4.9% and the TSX Gold Index (TGD) gained 4.3%. Gold is now up 13.6% in 2025 and silver 17.8%. Compare that to the TSX down 0.7% and the S&P 500 down 4.1% in 2025.

Gold is benefitting from the chaos in the U.S. with tariffs, threats against judges and media, and threats to annex Canada, Greenland, and the Panama Canal. Is the U.S. constitution in trouble? There has been constant talk of lowering the value of the U.S. dollar (note: it’s already happening). One way would be to revalue gold upward just as they did at the height of the Great Depression. We note the gold held in Fort Knox still sits on the books of the U.S. at $42.22. Despite a steady stream of central banks adding to their gold reserves, the U.S. has stood pat but still has the world’s largest gold reserves.

We live in nerve-wracking times and, while cash and bonds are good safe havens, gold is the best as it has no liability. And a reminder that cryptos are just flickers on a screen still open to hacks, theft, and money laundering. Bitcoin, after a monumental rise to over $100,000, is down 9.8% in 2025.

Source: www.stockcharts.com

Are we finally going to see a breakthrough for silver to new highs? This past week we took out $34 resistance. We also took out points that suggest we should get new highs above $35.07 seen in October 2024. All-time highs at $50 still seem remote. Nonetheless, pullbacks can be expected. As of now, the line in the sand is at $31.30, although we’d also like to see $32.25 hold on any pullback. The RSI is at a reasonable 64 so we are not overbought at the moment, suggesting room to move higher. We break out firmly above $35.50. It has been a choppy rise for silver, with good rises offset by steep pullbacks. Silver continues to be the forgotten companion to gold. Or, as we call it, the poor man’s gold. Silver remains relatively cheap and the gold/silver ratio, currently

at 87, remains quite elevated. We have seen recent buying in silver stocks, suggesting that they may be forecasting a pending rise in silver prices.

Source: www.stockcharts.com

Onward and upward. Gold stocks have been the best-performing asset so far in 2025 with the Gold Bugs Index (HUI) up 24.4% in 2025, including a 4.9% gain this past week as gold prices reached record highs. The TSX Gold Index (TGD) is up 28.2% in 2025, including 4.3% this past week. Can they keep it up? We might catch pullbacks first, although the RSI on the TGD is not as yet overbought. There has yet to be a mad rush into gold stocks or even gold for that matter, despite the stellar 2025 performance and the collapse of the broader markets.

The TGD made fresh 52-week highs this past week but the HUI remains below its high. A possible divergence? We seem to have good support for the TGD down to 410, but under that we could fall to 390. We’re a long way from a major breakdown under 360. Within sight now is the all-time high for the TGD at 455. We are 5% under that level. Too bad the HUI can’t claim the same as it remains down 46% from that 2011 high. We are 14 years and counting to see new all-time highs for the gold stocks once again. A reminder that it took 25 years for the DJI to regain its 1929 high and 34 years for Japan’s Nikkei Dow to regain its high. It took roughly seven years for the DJI to regain its 2007 high. It is possible we have made a temporary top, especially if gold falters at $3,000 resistance, which is a distinct possibility. Support levels then become important. We wouldn’t want to see the TGD break under 388, the most recent low.

Read the FULL report: Technical Scoop: Temporary Rallies, Stagflation Possible, Precious Recognition

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 →