You could argue that it ended here. There was a down handle and it popped there. So you can make that a handle that goes from the left to right downward slope and is the most powerful. So we can make that argument. The point is that we hit this 2100 level once, twice, three times. You can see here four and we didn’t break here till the fifth try. And from that time, which is roughly in March of 2024, gold has basically gone parabolic and now we’re bouncing off. So in my private work for our premium service, I talked about gold peaking and so far it looks as if I am correct.

So we also can look here from a longer term perspective of how many times gold hit the 200-day moving average and how many times it hit the 50-day moving average. And you can see it did it a few times, but it hasn’t gotten close to either one basically from the time that it broke out slightly before that time, as you can see. So I think there’s a little bit of caution here on a shorter term basis. The idea of a commodity touching the launch point does take place, which would mean a complete retracement down to this blue line, this 2100 area.

That would be a complete retracement. I don’t see that at all. But there is support. There was this cup here. And so there was congestion down there around 2800, I guess, and 2850 somewhere in there. That would be basically your first level of support, strong support. I’m not saying that we’re getting under 3000. I don’t know. The market knows more than anyone. And anyone that tells you different than that, you can believe them or not. But I’ve got over 40 plus years in this thing. And I’ve been humbled by the market many times thinking that I knew that it was going to stop or it was going to do whatever I’ve learned a long time ago.

I don’t tell the market anything, but very, very careful observer. So people that are in this, you know, I’m selling some gold here. I don’t see your core position. What are you going to move into Fiat? Well, you could. I certainly wouldn’t trade gold for a T bill personally, but, you know, there might be something you want to buy or some debt you want to pay off or you got a, you know, 12% interest on a credit card or second mortgage or, you know, whatever. I’m not telling you what to do with your money.

I’m just suggesting that you might be able to sell here near this top and you might be able to buy back if you do, you know, if you wanted to, uh, at a lower price, no guarantees, of course. All right. So coming back to the line, excuse me, to the landing page, the Morgan report.com. You look at the blog and not a lot of new stuff on here. I’ve been gone all week. I was in, uh, Portland, Oregon for most of the week, got back Friday, making this update on a Saturday actually. So there’s a few things there, but I want to go back, get back to the homepage and go to our Twitter feed.

Cause I did a lot of postings after I got home today. So if we go to my page, a few things, I’ll run through these pretty quickly. Um, this first one here was Kevin Melham talking about power problems with Escom in South Africa. And I put it out that 70% of the world’s platinum comes from South Africa. And I’ve addressed this many, many times about, uh, the vulnerability of South Africa from electrical issues, political issues, mining issues, labor issues, cost issues. So I’m just bringing that to everyone’s attention. This is something that people have asked me about.

So I decided to post it and this is, you can read it for yourself from the white house and the, uh, immediate measures to increase American mineral production. If you’re interested, you can click that. This one is, uh, for mining weekly reputable source investment in digital platinum. That means ETFs is soaring world platinum investment council reports. You could click and read that article. You can only see like maybe six people retweeted it. Platinum and palladium are not very well followed. Gold isn’t all that well followed relative to the financial system at large.

A gold is highly followed relative to say platinum, palladium, or even silver. I mean, gold has got three or four times the following that silver does in probably 10 times or more what platinum play. So regardless, this is something I’m always looking at the e-waste. So if you’re interested in e-waste, this is a posting I did today about e-waste. Uh, this one talks more about the platinum group metals and how the, how the PGM’s are consolidating. One here that maybe some people don’t want to hear. I believe this, um, is true from other sources other than this one I posted on the PV growth is expected to slow down in, uh, in the following year or so.

I know there’s others out there that I respect say differently. Um, I’ll just leave it. I won’t say it’s a coin toss from what I’ve read sources I have. Uh, I think this statement is true or I wouldn’t have posted it, but sometimes I post things just for the record, just so that someone is saying something wrong. I’ll have a record of it and I could go back to it and say, wait a minute, you guys said this back, you know, in May 2025, that solar was going to decrease by 10% or so and an increase by 20% come back, call them out.

In that case, it’d be calling myself out too, but I’m willing to do that. Uh, this one’s interesting. My friends at, uh, money metals, uh, talking about, you know, let’s, what is copper tones about silver? Pretty good article. Just take a look at it. Um, talk, this one is about golden silver bar and coin demand rose everywhere, but in the U S pretty much what that says. Oh, let’s see here. Um, no gold falls. That’s the big news that I just went through the way I see it. And this one I reposted from squeaky mouse.

We’re getting that coiling action here. And as you get that coil, it gets tighter and tighter and tighter. You can think of a coil like that getting tighter and tighter and tighter. Get over here. It’s going to spring up or it’s going to spring down, but it’s going to have it with a lot of energy. And of course the silver bowls are thinking it’s going to spring to the top and that’s me. I think it will. All right. I did something for the first time, but I hit pause before I started recording further.

I have never used Grok until just now. And so what I asked Grok, as you can see is our gold price is headed higher or lower for the summer. And I’m not going to read this whole thing to you. You could type in the exact same thing in Grok and probably get a different answer, but it should be similar to this one. So they’re talking about the historical trends and some analysts think it’ll be 3,500 to 4,000 by the end of the year. Uh, and then the drivers geopolitical uncertainty center bank buying monetary policy and inflation dollar weakness to go on those.

I won’t read it. Technical analysts, uh, with support levels around 2537 to 2655. And that comes up with those numbers. Um, and that’s no retracements of these levels could present buying opportunities with upside targets needs 3000 to 3,500 sentiment on X. Some posts reflect strong ball of sentiment with predictions of gold reaching 5,000 in the coming years driven by central bank demand bearish case or recent corrections. Uh, in early May, 2025 dropping so many grams, such as about 2800 the ounce. Um, and I already said that previously not knowing what Grok was going to come up with dynamics, stronger dollar, reduce safe haven demand with the geopolitical ease of and trade negotiation stabilizing speculative profit taking that’s definitely taking place on the trading side.

Season on short term pullbacks silver and gold are almost always weak during the summer months, not always, but almost always the low in silver and gold historically has been in August. Uh, it’s the old adage sell in May and come back after labor day, which is in September. So that gives you that outlook, uh, risk of oversupply or policy shifts, potential sale of gold reserves by distressed nation example, Russia or hawkish fed policy reverse reversal could depress prices now. Okay. We’ll take that likely scenario. The balance of evidence leans toward gold prices trending higher over the summer.

I disagree. I think they’re going to go in a trading range over the summer, uh, sideways at best, uh, but definitely below 3,500. Not that we couldn’t see 3550 or 60, but if you look at trend of ups and downs that squiggle, so I don’t like that silver Charlie just showed you where it’s a descending triangle. I think it’ll be more of a channel formation up and down. Okay. Price range based on available data, uh, could trade between 3,137. I’ll go along with that. It could get above 35 in the summer. Again, I think that I doubt it, but could, uh, key risk with stronger dollar profit taken or reduced geopolitical tensions could cap gains or trigger temporary declines.

3,000 3,200 conclusion gold is more likely to head higher for the summer. Again, I don’t think it will. I think it’ll be in that trading range, but market knows more than I do. Or as I said before, as anyone else, fed policy up to issue, political developments, we keep talking about disclaimer. This is for informational purposes only and is not investment advice. Gold markets are volatile and price performance does not guarantee future results or passive performance. It’s only financial advisor before making investment decisions. So I’m wrapping up there with this week’s perspective.

This is David Morgan of the Morgan report.com signing out. The U S government debt is about to cross $37 trillion. That’s not a typo. That’s trillion with a T tariffs are being used to try and even the playing fields. Global supply chains are shifting inflation isn’t going away and the value of your dollar. It’s quietly being drained while no one is really talking about this. The truth is we’re living through the early stages of a financial reset, whether anyone wants to admit it or not. And if you’re still relying on mainstream headlines or financial advisors who just tell you to write it out, you could be blindsided when things really shift.

That’s where the Morgan report comes in for over 25 years. David Morgan has been helping investors cut through the noise. He tracks what actually drives markets from precious metals and mining stocks to global debt and monetary policy and show you how to protect and grow your wealth when the system is under stress. This isn’t just about gold and silver. It’s about having a clear eyed view of where things are headed and making sure you’re not caught off guard. The Morgan report gives you real research, honest analysis and strategies you can act on, even in a world of rising debt, unstable currencies and economic uncertainty.

Go to the Morgan report.com today, download your free report, get informed, get ahead and take back control of your financial future. The Morgan report.com because 37 trillion in debt won’t fix itself. And the stuff is also quite heavy, as you know. [tr:trw].

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