The July newsletter was delayed for a few reasons, not the least of which is that we’d hoped that the price action would paint a clearer picture for you. Unfortunately, it hasn’t just yet, and it may be a couple more weeks before that happens. The extraordinary cross-currents in the markets continue, and we suspect this is the “new normal” for the next several quarters as the war drums get louder and more intense.
That intensity has fueled more volatility in the precious metals markets than we’d hoped for. One would suspect that the geopolitical insurance role gold plays would cause that premium to continue to rise. However, gold is also a highly liquid market, and when other markets go haywire (energy and tech!), it can cause temporary selling pressure to cover losses in other markets. We believe that is what we’ve witnessed over the last thirty days. The possibility exists of another short-term dip. However, it seems sellers are close to finding the level that long-term buyers are eager to step in.
Finally, you may have missed it, but this month a rather well-known gold dealer went bankrupt. Therefore, in this newsletter we’re going to draw your attention to two articles written by our COO, Josh McLeary, that shed light on why this occurred and why OWNx is structured to shield you from something like this ever happening to your metal.
As always, we’re here for you,
The OWNx Team
Gold and Silver
What Do the Charts Say?
The gold and silver markets have reached a decision point. There isn’t much to say, as the charts show it all. Gold has followed a well-defined downtrend line for several months (green line). It has also found support in an area of congestion where it first broke out strongly, then came back and found support (blue line). The fact that it has held nicely along that blue line for several weeks now bodes well for the $3,900 area forming as strong support. Should that give way (which is possible but unlikely), there is very strong support in the $3,500 area that capped the price throughout last summer (red line).
Silver continues to remain in its corrective downtrend wedge formation. However, it too is forming support at the $55 level that capped its price last fall. Should gold break below $3,900 and move toward $3,500, silver could bottom in the $45-$48 range. Again, we don’t see this as likely; however, all markets are a bit irrational right now.
It is our opinion (not a recommendation to buy – for that, consult your financial advisor) that gold and silver may become range-bound for a month or two. Prices could meander between $3,500 (at the lowest extreme) and $4,500 for gold, and $50 to $65 for silver. This would be an opportunity to accumulate for the next leg up, which we anticipate could be well underway as we reach 4Q26.
OWNx Edge
As you know, for over fifteen years, our quest has been to disrupt how precious metals are made available in the market. We believe everyone, regardless of how much metal they are able to purchase, should be able to easily buy it at the lowest possible cost. With the new OWNx EDGE membership, you can now purchase all your stored metal at wholesale cost. That means…
- 0% premiums!
- You get your metal at nearly the same price as those who buy millions of dollars of metal.
Whether it is innovation in Precious Metal’s IRAs or buying metal at cost, we continue to level the playing field for our clients.
