Testing Support
“Sell in May and go away” is, more often than not, good advice. This year is a painful case in point for gold and silver. After starting 2026 with an epic run, they corrected hard and are now bouncing off support at $4,000 and $55, respectively.
Summer Doldrums Ending?
Based on the following chart, precious metals seasonality is turning positive. If true, that means the recent correction has created some bargains in the gold/silver mining space.
Meanwhile, Copper Is Testing Resistance
The growing realization that copper miners can’t sustain, let alone increase, their output has hyperscalers, grid builders, and EV makers buying up whatever is available, at whatever price prevails. The copper chart, as a result, looks poised to blow through $6.50/lb on its way to more new highs.
Another Good Earnings Season
Leading players in gold, silver, oil, copper, and uranium are reporting second-quarter numbers that are almost as impressive as their blow-out Q1 results. That means more cash to pay down debt, raise dividends, buy back stock, and make accretive acquisitions. These companies are, in short, becoming better versions of themselves every day, to the benefit of their shareholders. For a little recent background, see:
Q2 Earnings Season Starts With...Completely Acceptable Numbers
Why Don’t Gold/Silver Miners Just Hold Onto Their Metal?