My view on Silver over the coming weeks. I expect it to grind lower with occasional short-term rallies throughout the May. Silver most likely shall bottom very late May early June and start more sustainable rally...

Junior Silver Miners SILJ is consolidating within $10.5 - 11.50 range over the coming day following the breakout from a year long formation. Once the consolidation is over, I expect SILJ to reach $15 mark...

As gold is down 6% from its recent top, Senior Gold Miners GDX lost 7.4%. Normally, GDX should have been down at least 12 - 15% for 6% loss in gold price, but we did not witness that. I consider this a healthy price action for miners...

Huge chunk of June 2024 gold and silver futures contracts expire by May end. I expect the bottom in metals upon expiration of June futures. Prepare for a boring month May…

Gold falling towards the FOMC today suggests that it may form a temporary bottom this week and start intermediate rally...

Gold to silver ratio is grinding higher towards the upper band of the broadening wedge formation. I would consider buying silver once the ratio reaches 89 - 90 level...

Gold monthly chart.
Metal during April rallied 8.6%, but did not manage to sustain most of the gains and ended the month with 2% gain only. Looks like gold would have to test at least $2,200 - 2,225 area before it resumes uptrend...

Gold is down from its recent top over 6% and I believe, the major part of a decline is behind us. Furthermore, from now on I expect a multi month zig zag grind lower. So gold requires patience before it completes it multi-year breakout and continues the advance higher during…

This is how I expect gold to perform over the coming weeks...

Today Junior Silver Miners SILJ opened at negative 5%, 20 minutes later SILJ recovered half of the loss and presently trading at negative 2.5%. I expect further recovery in the SILJ as day ends...

I believe, by the end of the day today, gold will be trading around $2,320 - 2,325 and gold miners will recover most of their daily losses.

Gold to silver ratio on the way to my 89 - 90 target, where I expect it to top. I am personally will be looking to buy silver aggressively once the ratio approaches 90 mark...

Gold as well broke down from a bear flag and heading south. Late buyers who got excited when gold went over $2,400 are getting punished. The decline towards $2,200 - 2,260 area is not going to be in a straight line IMO. I am going to look at PM miners for signs of a bottom when…

Silver monthly candle does not look that good anymore after epic breakout early in April. Today is the last day of the month - silver gave back most of the monthly gain. Let's see at what level silver prices closes today...

Silver is down 1.7% so far on a day having broken down from the bear flag, which is a continuation pattern. Silver could test $26.25 and then bounce back towards $27 mark today...

Precious metals, particularly silver under pressure today. Silver is down so far on a day 1.6%, testing April 23 low. With Fed day tomorrow, I don’t expect anything new, meanwhile PM are doing what they have to do - consolidating recent gains…

Junior Silver Miners SILJ 2-hour chart...

Gold is flat on a day while senior gold miners GDX is up 0.6%. I believe, no major price action is going to take place e until Fed day is over on May 1, 2024…

Senior Gold Miners GDX on the opening today lost 1.35%, but fully recovered intraday losses by now. This is a typical price action of miners during the gold's bull run...

I don’t think gold is going to produce any sustained move higher. We are likely going to witness narrow range grind lower over the coming weeks with occasional short lived rallies higher…