Advisor Metals Flash Update for August 7, 2026
Gold and silver both went through, above, and closed above their respective 50-day moving averages this past week!
We wrote last week that it looked like a bottom was forming in the metals.
For the week gold was up 7.39%, and went through its 50-day moving average strongly on 8/5/26, silver was up 10.43% and went through its 50-day moving average on 8/7/26, and the Dow Jones Industrial Average (DJIA) was up 2.96%.
Showing again that the charts know all (okay most), the increase in gold through its 50-day moving average occurred two days before the employment report for July was released on Friday showing a payroll decline of 23,000 vs. a forecast of an increase in payrolls. Potentially giving the FED room to lower the Fed Funds rate next month benefiting the metals.
Until next time…