The selloff in the gold and silver markets has reached exhaustion.
Silver
October 26 (King World News) – Rashad Hajiyev: After a multi decade breakout, silver is selling off to test 2011 higher around $50 level. Only if silver does not hold around $50, I could change my view.
In fact, $50 shall serve and a solid retest level. However, silver could actually never test $50, but that is the red line…
KING WORLD NEWS NOTE: Silver Simply Backtesting 45-Year Breakout Near $50. Expect Silver Market To Resume Upside Advance At Any Moment.
Gold Stocks
The Kobeissi Letter: Gold stocks have rarely been this oversold.
~92% of stocks in the gold miners ETF, GDX, are now trading below their 50-day moving average, the highest proportion since late July.
This figure has risen +80 percentage points in just 21 sessions.
Furthermore, 90% of stocks in GDX are trading below their 200-day moving average, the highest proportion in 3 months.
Similar setups occurred in March 2024 and December 2024.
In the following month, GDX rallied +21.5% and +15.4%, respectively.
History suggests the selloff in gold miners is nearing exhaustion.
The Mother Of All Crises!
To listen to Alasdair Macleod discuss the mother of all crises as well as what to expect next from gold, silver, oil and more CLICK HERE OR ON THE IMAGE BELOW.
ALSO RELEASED!
The Gold & Silver Selloff Has Reached Exhaustion CLICK HERE.
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Two Major Collapses Are Rocking Markets Today CLICK HERE.
Silver Backtest Near Completion Before Soaring To Hundreds Of Dollars An Ounce CLICK HERE.
War Continues To Unleash Massive Inflation CLICK HERE.
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