Since our last market update, Gold and Silver have both shown resilience and support from market participants. There have been a few key things that have helped both metals on their way up, one main one being the certainty of The Fed cutting interest rates throughout the rest of this year into 2026. The idea of an unusually high number of dissents at the December meeting is all the word. The market went from a for sure rate cut in December to a toss-up, which took its toll on Gold and Silver.
Since our last post, Gold has continued to trade between a low of $3967 and high of $4245. Currently gold is trading over $4100 after holding its ground at the important $4000 mark. Support on gold seems to be strong at that $4000 level and if we can continue to hold there, we should be able to test up to all-time highs again. A break of
$4000 would bring us to $3950, then possible down to $3880ish. Silver has traded as low as $47.61 and as high as $54.41. It currently is trading on either side of $52 after a run up this morning of over 2%. From a technical standpoint, there should be support around the $50 mark, and if we continue to hold there all-time highs are in view. Should we break $50, on the downside the support levels should be at $49.50 then $49.
While the interest rate decision in December, and any Fed chatter leading up to it, or any insight as to what is expected will have its way with Gold and Silver in the short term, I ultimately believe that this market is still going higher. Even if The Fed does not cut rates in December and stands pat, their hand will be forced to move in 2026. Any pull backs in this market should be seen as an opportunity to jump in, and not a reason to sell and get out.