Here is an important update on the gold market.

Gold Update
July 7 (King World News) – This is a small portion of an important update from the always brilliant Jesse Colombo:  Toward the end of the week, gold rebounded by roughly $200 an ounce, or about 5%, to close just under $4,200. This rebound came right off the $3,900 to $4,100 support zone I’ve been highlighting, which formed at the lows of October and November 2025.

The next hurdle for gold is the $4,300 to $4,600 resistance zone, which must be broken decisively to confirm that the recent weakness has run its course. This zone was formed over a nine-month period by the highs and lows from October through June.

Lending further support to gold’s recent rebound is news from the World Gold Council that, while notoriously fickle retail investors have temporarily soured on gold in recent months, central banks have continued to buy aggressively, stepping up purchases to a net 41 metric tonnes in May.

Central banks have been on a sustained buying spree over the past half decade as they diversify away from fiat currencies, which continue to be debased through the relentless expansion of the money supply.

Gold & Silver
To listen to James Turk discuss what he expects next for gold, silver, the mining stocks and more CLICK HERE OR ON THE IMAGE BELOW.

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