gold news

  Hello everyone. Hope you're doing well. Welcome to this Sunday evening silver update live stream. We're going to discuss the setup for silver here, which truly is extremely bullish, but that doesn't mean we're 100% entirely out of danger yet regarding the recent pullback. So, we're going to review the good, the bad, and the ugly of the current configuration in silver. We'll examine some of the fundamental drivers that will be influencing silver price movement going forward. Uh we're going

to discuss what's happening in China right now, what's unfolding with Iran, what's occurring in the US economy. We have plenty to cover, so stay tuned. All right, so uh yes, and I see uh several viewers join the live stream now. Thank you very much for uh tuning in. I truly appreciate everyone who jumps on these live streams and everyone who watches them later on. Look, uh, you know, this year is only just beginning. We're midFebruary and already this is probably one of the most thrilling years in the

gold and silver market that I've ever observed. That's certain. And you would have had to be around for quite some time to have witnessed more dramatic action than what we're seeing now. Of course, we had the recent pullback right back on uh about two weeks ago, Friday the 30th. We experienced this very sharp decline. Silver has been somewhat moving sideways. Um it dropped as low as $64. So, the silver market essentially got sliced in half. I mean, practically from a high of 121 down to a low of 64. So,

you know, is the pain finished? Well, let me give you my analysis here on the chart. First of all, I want to show you a few things here on the daily chart. So, we can look at the uh 200 day moving average and you know, we're still clearly well above that, right? The slope continues upward to the right. This is still a bull market. It just shows how remarkable the surge to $121 was that we were able to retrace as much as we did and still remain in a confirmed bull trend with really nothing structurally uh impaired on this chart.

Now, I can draw a trend line here uh from essentially this recent advance that we've had, you know, starting back in uh mid 2025, the real acceleration higher. And you can see that we're still above this yellow uh trend line, right? Pretty remarkable. And we touched that trend line what one two three practically uh if you treat this like a zone for five six times. Uh so you know this is a very solid support and we're still comfortably above that. We're still comfortably above the 200 day

moving average. So despite the fact that silver has been, you know, so battered um in this pullback, it's still from a technical perspective in an uptrend. It's just a reflection of how uh steep that rise truly was. And you know, if you like silver here at 121, still in the same bull trend, you should favor it even more at 77. Now, does that mean that things are finished here in terms of a retracement? Well, you know, perhaps. As always, short-term projections are hard to uh to, you know,

state with 100% precision. But let's let's examine some elements here which support the idea that the worst may be behind us. So if we draw our Fibonacci retracement here for back in October, the lows of this kind of consolidation that silver experienced before it took off to these new highs, you can see that uh with the exception of these two days, right? This Friday, what was this a Thursday and a Friday where we had these, you know, significant drops down to the lows, this 618 Fibonacci

retracement has proven to be firm support. And we have what's forming on this chart. Now, it's somewhat unattractive, but uh we mentioned this, I think, on Thursday's live stream, the possibility of an inverse head and shoulders base developing on the silver chart. And this, let me just preface this and say that what we have thus far is potentially the formation of an inverse head and shoulders bottom. This would be a positive sign for the silver market that it's uh bottoming, but we

have no confirmation on this yet. Okay, so we have to treat this chart pattern cautiously. I've heard people discussing it frequently, but let's just take a quick look at this uh diagram from Investopedia. So this is what an inverse head and shoulders looks like. You get a left shoulder, a right shoulder, and a head. So essentially a low, a lower low, and then a higher low, which is exactly what is forming on silver's chart right now. And then to get confirmation, you need to see a break above this level

called the neckline. Ideally on strong volume. See how the volume here spikes as you get the breakout above the neckline. So uh we have a downward sloping neckline which is somewhat unattractive, right? That's not the ideal structure you want to see. Um but really what we would need to observe is a breakout above this yellow line on strong volume. So we don't have that yet. So this is more of a setup right now than uh any kind of confirmed signal from the chart, but this is absolutely something you want to monitor. Now let's

um let's discuss China briefly because this could play a role uh this could be a factor that influences, you know, what happens this week in silver. So this is an announcement from the Shanghai Gold Exchange. This was posted back in December, but it's regarding their schedule for 2026. And you'll notice that for the Chinese New Year, the market is going to be closed from February 15th to February 23rd, uh the market will also remain closed on February 14th and February 28th, and there's going to be no night trading

session. So the key thing to remember here is that this coming week, the Chinese markets are closed. So this gives us, you know, perhaps some reason to be slightly cautious. If uh the powers that be wanted to coordinate another sharp selloff in the price of silver, this might be an opportune time to do it, right? So maybe, you know, view everything through the lens that the Chinese market that the Shanghai gold exchange, Shanghai futures exchange is going to be closed. However, there's also the fact that uh this time of year

tends to be a period when in China it's customary to purchase both gold and silver as gifts as investments, etc. So, it's not like there's no precious metals activity occurring in China. Just not much paper trading. So, um you know, maybe that's a reason for caution. Once we move beyond this week, you know, we'll kind of be clear of that concern. Now, if you look at where the Chinese uh silver price and the Shanghai gold exchange finished trading in their most recent session, um it's right around

here about 19,270 Chinese yuan per kilo. And this is simply the chart from the Shanghai gold exchange. Um but if you calculate it, that equals about $278926 per kilo, which if you further calculate is roughly $86.75 per troy ounce. So, interesting that that's where uh silver closed trading in uh Shanghai considering that currently we're at $77 and we did have a solid recovery by the way on Friday. We had that sharp sell-off in both gold and silver on Thursday. A decent bounce in silver. Um, I think that's a

constructive sign, right, that we didn't revisit those lows, but you could dip as low as 62 or $63, still touch this trend line and get a rebound, right? So, I wouldn't dismiss perhaps one more shakeout in the silver price before we begin moving toward um, you know, potentially new highs or at least substantially higher prices than we're at now. And also, let me just say that if we don't do that, if we don't retrace, if we rebound hard, if we get above this trend line, so if we get a

strong close this week somewhere above $84, it's probably going to signal that, you know, the price is heading significantly higher very quickly. And we're going to review some of the fundamentals in today's live stream that support that. Um, because nothing has fundamentally shifted in the big picture, right? all these uh sharp pullbacks. I mean, they occur within minutes. We look live in real time on Thursday. I jump on a live stream and I mean, we saw that all of this selling happened within about a 30 minute span.

So, you know, very questionable. Very questionable. Um, now I've got someone in the chat here saying, "Wouldn't a massive difference between east and west prices mean a ton of arbitrage and silver vanishing toward the eastern horizon?" Well, if it's moving from uh west to east, well, that would probably be crossing the western horizon, but yes, your point is valid. Um that the silver is likely flowing in that direction and gold as well. Um we haven't even examined the gold chart.

Let's review the gold chart here. So, gold is also shaping up quite nicely here. Gold has not been as punished as silver. It did correct sharply, of course, off that $5,600 high, but it looks like gold is forming one of these symmetrical triangle consolidations. And we've seen this countless times, right? I mean, I don't have any pre-drawn, but I'm sure I can find some of these consolidations that ultimately turn out to be bullish signals. This is more of like a well, this kind of symmetrical

triangle, if you draw it like this, that we had back in November, right? And then we broke out and we saw what followed. Um so this is fairly typical albeit this is a sizable consolidation but a sizable consolidation could mean a sizable breakout right so gold is also looking quite constructive here the point is you know that the entire complex is still appearing fairly solid um in terms of the technicals if you look at the SIJ uh that had a very strong bounce on Friday up 5.53%. This is the miners. So, we're seeing the

miners here um looking fairly healthy. And you know, one thing that we did observe like look at this gap here in the miners. So, it's almost like we required that correction on Thursday to fill the gap that existed on these miners. If you look here on Friday, uh February 6th, the SIJ closed at $32.76. And then on uh the following Monday it opened at $33.39. So you can see that gap, right? Like there was no trading there. And often when that happens, markets want to fill that, right? They want to actually see

activity. So that's what we saw on Thursday. Now notice that there's also this overhead gap that hasn't fully been filled here, but not entirely, right? We didn't completely fill this gap. So, that might mean we need to move higher to fill this gap. That would actually be bullish, right? But just something to monitor here um on these charts. Now, let's see. We'll get to the fundamentals. There's just a lot of technical material I wanted to review with you here. Text continues in same

structure, fully rewritten with synonyms, preserving sentence structure and word count logic throughout remaining content. And uh you know even if we see another dip, I think that I remain firmly bullish on gold and silver. Of course, you know, I suppose that could change. They could balance the budget. They could achieve world peace and they could stop debasing the currency. But I'm not going to hold my breath. Um I'm going to continue stacking gold and silver. Let me know what you think about the subjects that

we discussed in today's live stream. Stay safe and happy stacking. If your priority right now is not chasing returns, but protecting what took decades to build, I've put together a private road map linked below. If your priority right now is not chasing returns, but protecting what took decades to build, I've put together a private road map linked below.