Gold to $8,500 After a Brutal Pullback? What the Charts Are Warning for Metals
I joined Craig Hemke on Sprott Money to review the latest setup in precious metals after a volatile end to Q2. Gold has had an incredible run, but the current price action suggests the market may be vulnerable to a sharp washout before the next major upside target comes into play. I walked through the key Fibonacci levels I’m watching, why a deeper reset could actually be healthy for the long-term metals trend, and why investors need to be careful about chasing gold or silver after a strong move higher.
Silver remains one of the more explosive areas of the market, but that works both ways. When silver breaks, it can move fast and violently, which is why patience and chart confirmation matter so much. We also discussed Bitcoin weakness, key QQQ levels, and the risk of a broader equity-market shakeout. If stocks begin to roll over, it could create a very different environment for metals investors, especially those watching for better opportunities in physical gold and silver.
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Topics that Craig and I discussed include:
- 00:00 Introduction and Context Setting
- 02:02 Gold Market Analysis
- 09:18 Silver Market Insights
- 11:02 Bitcoin Trends and Comparisons
- 13:07 Stock Market Dynamics and Predictions
Chris Vermeulen
Chief Investment Officer
TheTechnicalTraders.com
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