Gold and Silver Remain Under Pressure as Stocks and the Dollar Gain Strength

ByTTT

In this interview with Craig Hemke for Sprott Money, I break down the technical picture for gold, silver, mining stocks, the U.S. dollar, and the broader equity market. The recent bounce in precious metals may look encouraging, but the larger trends are still pointing lower. Until gold and silver can reclaim key resistance levels, move back above important moving averages, and show stronger momentum, I continue to view the move as a potential bull trap rather than the start of a confirmed breakout.

We also look at how strength in the stock market and the U.S. dollar could continue to pressure precious metals. Gold miners remain weak, silver has not yet shown the type of price action needed to confirm a durable reversal, and capital continues to favor equities. The focus is not on guessing where the exact bottom will form, but on waiting for the charts to provide clear evidence that the trend has changed.

Published August 5, 2026

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What Tom and I also discussed includes:

  • 00:00 Introduction and Overview of Precious Metals Projections
  • 02:16 Analyzing the Dollar Index and Its Impact on Precious Metals
  • 04:45 Equities Market Trends and Their Influence on Precious Metals
  • 09:11 Current State of Precious Metals and Mining Stocks
  • 13:05 Gold and Silver Market Analysis
  • 18:21 Conclusion and Future Outlook

Chris Vermeulen
Chief Investment Officer
TheTechnicalTraders.com

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