Gareth Soloway argues the precious metals complex is losing momentum after a sharp run, with gold holding up better than silver but both showing bearish near-term setups. He leans short-term bearish on silver, cautious-to-mixed on gold, and similarly cautious on platinum, palladium, and copper, which he says all look technically vulnerable after topping and inside-bar breakdown patterns.
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This video is a chart-focused technical review of precious metals led by Gareth Soloway, who says volatility in metals is subsiding in a way that looks like digestion after a recent drop, not a healthy reset for bulls. He argues that if the metals were going to resume higher immediately, they would have quickly reclaimed prior highs; instead, gold is chopping near the upper end of its range while silver is sitting near the low end of its support zone. His core message is that the charts are pointing to lower prices in the near term unless key resistance levels are decisively reclaimed. For gold, he highlights resistance around 5100-5125 and says the prior topping action, including a doji after multiple up candles, signaled exhaustion. He says the recent drop found support in the 4300-4400 area, making that the current base. …
Near term, the setup is fragile for metals: silver is the most exposed to a downside break, while gold is merely less weak rather than clearly bullish. A quick reclaim of overhead resistance would force a reassessment, but absent that, the tactical bias is for continued softness and possible flushes.
Over the coming weeks to months, the base case is that silver and the more speculative metals resolve lower from their current ranges, while gold may lag less badly if it can defend its higher base. Confirmation would come from silver losing 70-71 and from failed rallies in gold beneath 5100-5125; a sustained break above those levels would weaken the bearish framework.
Structurally, the video argues that chart patterns can expose regime shifts in metals before narratives do, and that precious metals are not immune to distribution after euphoric runs. If his read is right, the broader lesson is that scarcity stories and supercycle narratives do not override price structure when momentum exhausts.
Volatility in precious metals is subsiding in a way that looks like digestion after the recent drop, not a healthy bullish reset.
He says the market is going to sleep and that this is 'not a good sign' near term.
Gold has resistance around 5100-5125 and support around 4300-4400, with a possible upside run only if it breaks and holds above resistance.
He frames gold as weaker than before but still better than silver, with clear support and resistance zones.
Silver’s topping tail at the highs remains valid because it never received a daily close above the tail’s high.
He argues the reversal is unbroken and therefore still active.
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