In today’s episode of Precious Metals Projections, Craig Hemke from Sprott Money News and Chris Vermeulen of the Technical Traders delve into:
- The remarkable volatility in the precious metals market over the past week, including notable movements in gold, silver, and mining stocks
- Analysis of the broader equities market, focusing on the current appetite for growth and the implications for investors amidst a backdrop of fear of missing out (FOMO)
- Detailed examination of the technical charts for gold, highlighting key levels and potential price targets as the precious metal breaks out of a multi-year consolidation phase
- Insights into the silver market, exploring its challenges and opportunities as it navigates crucial resistance levels and strives to break out of its range
- Evaluation of the GDX ETF (proxy for the mining sector), identifying strategic entry points and discussing potential upward momentum amid changing market dynamics and investor sentiment
“With gold breaking out, and metals and miners being more or less hated, and people panicking, we’re primed and ready for a fairly significant rally in gold and silver and miners. Miners are still struggling to get into an uptrend. They’re just starting, we’re still in a bounce phase — an oversold bounce. But it could be the start of something very, very exciting.”
LISTEN TO THE PODCAST HERE (or watch the video format below).
