Advisor Metals Precious Metals Market Update for January 23, 2026
My observations in last week’s blog post that silver looked to go higher, gold looked to be going sideways, and the Dow Jones Industrial Average (DJIA) also looked to be going sideways was correct on two out of three. Gold kept going higher. If a baseball player had a 66% batting average that would be exceptional!
The moving averages for the all three continue to be upward sloping though the price action for the DJIA is looking to be pausing.
This week gold was up 8.3%, silver was up 14.8%, and the DJIA was down .53% and lower for the second week in a row.
The significant economic news stories this week were the release on Thursday of the Gross Domestic Product (GDP) for the 3rd quarter of last year and was up 4.4% the strongest quarterly growth in two years (the Trump effect). Also on Thursday was the release of the Core (ex-food and energy) Personal Consumption Expenditures Price Index (PCE) the FED’s favorite inflation gauge. It was 2.8% up .1% from the shutdown skewed combined October and November number and in line with analyst’s expectations. The number is above the FED’s 2% inflation target and will be a factor in next week’s Federal Open Market Committee (FOMC) meeting’s decision making.
Until next time…