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Is The Precious Metals Crash Over? My Exact Buy Targets for Silver & Gold

Channel: Gareth Soloway Published: 2026-02-14 11:15
Gareth Soloway

Gareth Soloway argues silver and gold are in bearish short-term patterns despite longer-term bullish conviction. He maps clear support/resistance zones, says silver is rangebound but likely to weaken if it cannot reclaim resistance, and identifies much lower buy levels for both metals if downside continues.

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Detailed summary

Gareth Soloway opens by saying he will analyze the latest chart action in gold and silver, then focuses first on silver. He says silver has already seen a major flush and is now trading in a broad range between support around $70-$71 and resistance around $92-$93. In his view, that range explains the violent 10%+ drops and rebounds that can happen without changing the broader setup. He characterizes the current pattern as a bear flag: near-term sideways chop is possible, but if silver fails to reclaim the upper range over the next week or two, he thinks odds shift toward another leg lower. He identifies a swing-trade accumulation area around $58-$60 and a larger long-term buy zone around $54-$48, where he says he would scale in with multiple limit orders. …

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Main takeaways

  1. Silver and gold are treated as bearish short-term setups despite long-term bullish views.
  2. Silver is viewed as rangebound, with $70-$71 support and $92-$93 resistance.
  3. If silver cannot recover the upper end of the range, Gareth expects downside to resume over the next 1-2 weeks.
  4. His preferred silver accumulation zones are $58-$60 for a swing trade and $54-$48 for larger long-term buys.
  5. Gold has clearer upside only if it reclaims $5,100-$5,125; otherwise he sees downside toward $3,900 and then $3,450-$3,500.
  6. The core framework is probability-based chart reading, not a call based on headlines or fundamentals.
  7. He is bullish on precious metals structurally, but only wants to buy aggressively after a deeper pullback.

Market read by horizon

Short term

Immediate setup is neutral-to-bearish: silver looks stuck in a range and gold is hovering beneath resistance, so a failed bounce or rejection at the listed levels could trigger the next leg down.

  • Silver: near-term action is likely sideways chop, with the key tactical range defined by roughly $70-$71 on the downside and $92-$93 on the upside.
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  • A failure to push silver back toward the highs in the next few days to 1-2 weeks increases the odds of a downside break from the bear-flag structure.
  • Gold: immediate resistance is around $5,100-$5,125; a clean breakout there would change the tactical tone quickly.
Mid term

Over the next several weeks, the base case is a deeper pullback in precious metals unless gold clears its resistance band and silver reclaims the upper end of its range. A decisive breakout would invalidate the bearish continuation setup.

  • Over the next several weeks to months, Gareth’s base case is that silver remains vulnerable if it cannot reclaim the top of its range, with downside odds increasing as the bear flag matures.
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  • For silver, he would start to become a buyer again around $58-$60 on a swing basis, with stronger scaling interest below that in the low-$50s and high-$40s.
  • For gold, the mid-term path depends on whether it can break and hold above $5,100-$5,125; if so, he thinks a retest of $5,400 and possibly $5,600 becomes plausible.
Long term

The long-term regime view remains bullish on precious metals because Gareth sees persistent fiat debasement as supportive of higher gold and silver prices. The structural thesis is accumulation on major drawdowns rather than chasing strength.

  • He remains structurally bullish on precious metals because he believes fiat-currency debasement supports higher long-run gold and silver prices.
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  • His long-term thesis is that major drawdowns in silver and gold should be used to accumulate, not to abandon the asset class.
  • He presents disciplined scaling into weakness as the durable edge, suggesting that patience matters more than chasing breakouts in secular metal bull markets.
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Key claims (9)

1:20
BULLISH precious metals Silver

Silver has major support around $70-$71 per ounce.

He points to repeated bounces and bodies holding in that area as evidence of support.

2:20
NEUTRAL precious metals Silver

Silver resistance is around $92-$93 per ounce and must be broken to revisit all-time highs.

He identifies a flat top and nearby candle bodies as resistance.

3:00
NEUTRAL precious metals Silver

Silver is rangebound for now, so large intraday moves do not necessarily change the broader setup.

He says even 10%-11% drops are still inside the range.

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Assets discussed (2)

Silver
MIXED commodity

He is near-term bearish on the chart, but long-term bullish and looking to buy lower.

Gold
MIXED commodity

He sees short-term bearish structure unless resistance breaks, while remaining bullish long-term and willing to buy lower.

Where this transcript pushes against consensus

  • The bear-flag interpretation is asserted visually but not statistically demonstrated beyond a general 70% claim.
  • The exact support/resistance zones are somewhat subjective and depend on how one draws the chart levels.
  • The forecast leans on pattern completion and psychology; it does not include fundamental drivers that could invalidate the technical setup quickly.
  • The statement that silver is rangebound between $70-$71 and $92-$93 may oversimplify intraday volatility and regime shifts.
  • The long-term bullish case for fiat debasement is broad and underexplained relative to the specific trade levels being proposed.

Topics

silver technical setupgold technical setupsupport and resistancebear flag patternprecious metals correctionlong-term bullion accumulationtrading psychologyprobability-based analysis

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