Here We Go Again...

Over the past few weeks, the precious metals market has felt like a long, winding march through shifting terrain.

First came the heat. Back in mid-October, the Gold market was blazing so brightly it felt like the desert at noon. Volatility spiked, traders were all on the same side of the trade, and the tape was shimmering with that unmistakable mirage of euphoria. 

We warned readers that it wouldn’t last - that even the strongest markets need shade.

Sure enough, one day later, the sun cracked. Gold suffered its biggest single-day drop since the 2020 peak, a sharp exhale that cleared the air without breaking the primary uptrend. 

In fact, October closed with Gold up for a tenth straight month, something no previous cycle had ever managed.

Which brings us to today.

The heat is gone.

The winds have slowed.

And the market has felt like a ghost town.

Gold and Silver stopped moving, the board reset, and buyers and sellers agreed to a truce. But it didn't last long...

Both shiny metals have decisively reclaimed key levels of interest, shifting the path of least resistance back to the upside.

Let’s walk through the setup.