Will this unleash a wild reversal in the gold and silver markets?
Gold & Silver Reversal Coming?
November 3 (King World News) – Otavio Costa: Positioning in the US dollar is at one of the most extreme levels we’ve seen in years.
KING WORLD NEWS NOTE: Speculative Positioning In The US Dollar Is At Extreme Levels. A Reversal In The Dollar Could Trigger A Reversal Higher In The Gold & Silver Markets
The currency is also deeply overvalued and technically stretched.
With rates rolling over and the Fed nearing the end of its hiking cycle, we may be approaching a major turning point.
Meanwhile:
Gold and silver are deeply oversold — a reversal in the dollar could unleash a powerful rally in both metals…
Listen to the greatest Egon von Greyerz audio interview ever
by CLICKING HERE OR ON THE IMAGE BELOW.
$300 Oil
Axis Balance: Whenever I mention $300+ oil, the reaction is usually the same: unrealistic.
But look at the inflation-adjusted chart.
KING WORLD NEWS NOTE: Crude Oil Not Even Close To Inflation-Adjusted 1980 Or 2008 Highs. Expect Massive Surge To $300+ Once Major Resistance Zone (RED LINE) Is Hurdled
WTI is still well below its 1980 and 2008 real-price peaks.
A return to the 2008 peak would imply roughly $220 in today’s dollars — potentially $275 by the mid-2030s.
$300–500 would mean a new real-price extreme, not simply a return to previous highs. An aggressive long-term scenario, not a base-case forecast.
The structure is approaching major resistance. No breakout yet.
History doesn’t guarantee the future, but ignoring inflation misses a big part of the picture.
Commodities
Ole Hansen, Head of Commodity Strategy at SaxoBank: Crude Oil: Brent tumbled 8% on Monday after Iran’s leadership authorised further talks with Washington, with both presidents citing progress in Qatar-mediated negotiations despite significant differences remaining. Prices rebounded modestly today after US forces reportedly carried out limited defensive strikes on Iran’s Qeshm Island following claims by the IRGC that it had downed US drones near the Strait of Hormuz. However, President Trump apparently ruled out resuming strikes after the midterms. The oil slump also weighed on other energy markets, with European gas futures falling almost 9% and US heating oil posting its steepest decline in six months.
Precious metals: Gold rebounded strongly from Friday’s slump as tumbling oil prices initially improved risk sentiment. However, gold encountered renewed selling near USD 3,970, a former support level now acting as resistance. The rejection highlights fragile sentiment, with technical and momentum-driven selling continuing to outweigh longer-term investor demand. Attention now turns to today’s US midterms, global equities, Middle East developments, and energy prices.
Copper’s recent resilience is being tested, with prices falling 2.8% in Asian trading to USD 6.38, challenging recent lows in the USD 6.30–6.40 area. Despite supportive structural fundamentals, the short-term path of least resistance appears lower amid broader metals weakness, renewed equity market selling and growing questions over the AI and data centre demand narrative. Adding to the pressure, the yuan weakened after the PBOC moved to curb its recent appreciation, making dollar-denominated copper more expensive for Chinese buyers. For now, these headwinds are overshadowing tight physical markets and constrained mine supply.
Gold & Silver Takedown
To hear more about the gold and silver takedown from James Turk CLICK HERE OR ON THE IMAGE BELOW.
ALSO RELEASED!
This Is Interesting After Today’s Bloodbath In The Oil Market CLICK HERE.
UPDATE: Gold, Silver, Copper And Oil CLICK HERE.
3 Pros Weigh In On Gold & Silver Takedown CLICK HERE.
Yes, Jamie Dimon Said Gold Price May Hit $10,000 CLICK HERE.
Here Is A Shocking Look At Silver And Crude Oil CLICK HERE.
Are Gold And Gold Miners Seeing A Major Bottom CLICK HERE.
© 2026 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the articles is permitted and encouraged.
