Advisor Metals Precious Metals Market Update for April 10, 2026
The charts say gold and silver are going higher from here.
Two weeks ago, in our blog post, we wrote that gold had bounced off of its significant 200-day moving average and moved higher and silver had made a 50% Fibonacci retracement off of its recent all-time high which is a significant retracement level and moved higher. Both gold and silver have increased in price since then and indications are that they will keep moving higher with my mantra that nothing goes up in a straight line or down in a straight line.
The Dow Jones Industrial Average (DJIA) this week moved above its significant 200-day moving average and has upward resistance at the 50-day moving average and closed on Friday below that level.
For the week gold was up 1.45%, silver was up 3.90%, and the DJIA was up 3.04%.
Inflation indicators released this week included the core Personal Consumption Expenditures Price Index (PCE) for February, the FED’s favorite inflation gauge, which came in down .1% from January and up 3.0% at an annual rate which was in line with expectations and the core Consumer Price Index for March which came in down .2% from February and at a 2.6% annual rate which was below expectations. The core readings do not include food and energy prices.
Until next time…