We are about to see a big move in the gold market.
Gold
July 21 (King World News) – Here is a small portion of the latest update from the always brilliant Jesse Colombo: Despite a couple of attempts to move lower during the week, gold rebounded on Friday and continues to hold above the $3,900 to $4,100 support zone, which is an encouraging sign.
As a reminder, the $3,900 to $4,100 support zone was established by the lows in October and November 2025.
Ideally, I would like to see gold continue to hold above the $3,900 to $4,100 support zone and rebound from it, with the next hurdle being the $4,300 to $4,600 resistance zone. A decisive break above that zone would signal that the recent weakness has run its course. This resistance was established over a nine-month period by the highs and lows from October through June.
In my Wednesday update, I showed how a triangle pattern had formed in gold over the past month and a half. I believe gold is approaching a sharp move as it breaks out of this formation in one direction or the other, though I am not attempting to predict which way it will go, as I prefer a reactive approach and let the market reveal its direction.
My hope is that gold continuing to hold support, combined with oversold conditions, terrible investor sentiment, weakness in the dollar, and the unwinding of the semiconductor and AI stock mania, which I’ll discuss shortly, will set the stage for an upside breakout. Of course, confirmation is key.
I find it encouraging that gold rebounded off triangle support on Friday, and I would like to see that momentum carry into the coming week, leading to an upside breakout, which I believe would mark the end of the recent weakness and the start of the next leg higher in the bull market.
One Of The Largest Silver Miners Says They Can No Longer Satisfy Demand
To listen to Nomi Prins discuss one of the largest silver miners on the planet telling her they can no longer satisfy physical demand from India, China, Saudi Arabia, Kuwait, etc, CLICK HERE OR ON THE IMAGE BELOW.
JUST RELEASED!
To listen to Alasdair Macleod’s discuss gold and silver carving out a bottom along with the mining stocks and more CLICK HERE OR ON THE IMAGE BELOW.
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Michael Oliver – Despite Pullback, Silver Coiling To Rocket Higher CLICK HERE.
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Is This About To Make Gold & Silver Prices Soar? CLICK HERE.
Here Is Yet Another Upside Catalyst For The Gold Bull Market CLICK HERE.
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