The price of gold and silver have moved into a trading range. We really don’t know how much longer they will stay there. The moves being made on the geopolitical and financial system chess boards are happening in rapid succession, increasing the stress on both. One driver is the three critical elections happening over the next forty-five days. In Russia last week, the dominate party – United Russian – held a strong majority. This largely indicates the “status quo” for its domestic and geopolitical agenda.
However, the looming elections in Israel and the United States mid-terms are very different. Voting begins in Israel in late October, and with Prime Minister Netanyahu becoming increasingly unpopular, and with President Trump holding a large double-digit negative approval rating spread, both governments could see dramatic shifts in direction. This would add to what is already a very volatile and uncertain geopolitical stage. This, along with the war drums being loudly beat in Europe, we would not be shocked to see several “October surprises” in the coming weeks. Those could be both political or kinetic events meant to sway the elections in a certain direction.
Meanwhile, the emerging economic story is the price of diesel. This one fuel powers the global economy, and due to refinery shortages, the average price is now $6.50 per gallon in the United States. If that holds for another quarter (and we believe it’s likely) then increasing price inflation across the board is all but guaranteed come 2027.
None of this is bearish for precious metals. It’s now a matter of the best way to wisely accumulate. Today’s charts may help you determine which strategy is right for you. As always, we’re here to support whatever you choose to do.
The OWNx Team
