From the Desk of Ian Culley @IanCulley

Readers often ask how long it will take for an open trade to reach our target. 

I wish I knew. 

Only the market can answer that question, as Gold did last Friday…

Six weeks!

It was only a matter of weeks — not months, not quarters — before gold futures hit our first objective:

What a face-ripper!

If this isn’t a clear indication of a new secular bull run for precious metals, what else do you need to see?

Luckily for anyone thinking about adding to positions or locking in profits, the extension level at approximately 2,450 marks a logical area for the rally to take a breather.

It doesn’t mean it will. Nevertheless, it’s still a good idea to take some profits here. 

Once buyers drive gold above 2,465, we can add to existing long positions (or open new ones) with a rough target of 3,300.

Meanwhile, Platinum and Palladium are looking juicy…

These low-profile precious metals offer excellent opportunities as gold digests its gains.

I highlighted Platinum last week as it challenges a critical breakout level. And our...

New all-time highs have a funny way of shifting perspectives.

Not too long ago, many considered gold a “dumpster fire,” a “hot mess,” or an “opportunity cost.”

All were fair assessments. 

Everything changed last month when gold rocketed to its highest recorded level.

Yet, for some reason, investors weren’t buying into its strength.

But a 12% gain over the past five weeks has quickly turned reluctant investors into ravenous speculators.

This is the video recording of our April 1st Monthly Charts Live Strategy Session

From the Desk of Ian Culley @IanCulley

People are asking me if gold’s breakout is the real deal.

All I can do is smile, state my bullish outlook, and draw a line in the sand.

Of course, I can’t resist adding an obnoxious upside target or two (the higher, the better).

Hopefully, it sounds simple. That’s the goal! It never pays to overcomplicate price action…. 

If you’re still wondering whether precious metals are a viable investment despite gold’s new all-time highs, let’s identify the underlying trend…

The gold rally off the 2018 lows led to a multi-year consolidation that is now resolving higher — uptrend intact. 

Plus, what an impressive stick from gold last month:

Richard Wycoff would call last month’s candlestick a wide-bodied bar — an indication of willing buyers. It’s a significant sign of strength.

Gold futures rose 8.94%, closing near the March highs and solidifying its breakout.

If gold’s bullish candlestick, underlying uptrend, and new all-time highs fail to squash your lingering doubts, check out the gold miners…

The Gold Miners ETF $GDX also enjoyed quite the bid last month,...

From the Desk of Ian Culley @IanCulley

Pop the champagne!

Gold reached new all-time highs. 

Now, whether we consider the shiny yellow rock a viable investment is another story.

You know I’m bullish…  

Yet I can’t overlook silver’s lack of participation.

I think of silver as gold’s rambunctious cousin — lots of fun until someone gets hurt — and someone always gets hurt!

Perhaps trading silver isn’t your cup of tea. I don’t blame you.

But silver rallies possess an infectious exuberance. Its rowdy antics and monstrous daily ranges magnetize investors as they attempt to skirt silver’s flame without burning to a crisp. 

Unfortunately, silver isn’t bringing the heat. It has yet to break out, and the silver-to-gold ratio is trending lower.

A similar scenario unfolded last spring when gold ran up against its former all-time highs:

The result: 10 more months of sideways chop.

Despite a likely pullback, gold futures and the Gold Shares ETF $GLD remain buys if they trade above last month’s breakout levels (2,100 and 193, respectively).

But gold will take the scenic route until...

This is the video recording of the March 2024 Mid-month Conference Call.

From the Desk of Ian Culley @IanCulley

Investors are finally waking up to gold.

Friends and family are blowing up my phone (and this time, it’s not just about baby pics). They’ve noticed gold’s rally to new highs – and they want to know whether to buy physical gold or an ETF — bars or coins. 

But silver has yet to enter the conversation…

I get it. New all-time highs have a way of capturing the investor’s collective conscience. 

But while gold is printing new all-time highs, silver futures post a mere multi-month high. 

I’m no fan of the catch-up trade, as I always want to own the strongest name(s), but check out silver’s four-decade base:

What a monster!

Silver reached its peak in early 1980 at roughly 41.50. The bulls didn’t see that level again until the spring of 2011 when price ran just shy of 50.

Spring is ahead today, and the soft, shiny metal is trading at approximately 25. That means it would have to double before hitting a new all-time high. 

I’m not waiting around for silver to complete this half-century base.

Here’s how I want to play it…

A significant...