Advisor Metals Precious Metals Market Update for September 4, 2026
What is a trading range and are gold and silver in one?
A trading range is when prices trade between upper and lower levels creating resistance and support. So, are gold and silver in trading ranges?
Gold is between its 50-day and 200-day moving averages. A trading range. On August 28, 2026 gold went below its 200-day moving average and on September 3rd and 4th attempted to get above its 200-day moving average running into resistance. My opinion is that the next breakout move will be above its 200-day moving average. The third time is the charm!
Silver went below its 200-day moving average on August 28, 2026 and is above its 50-day moving average. Clearly in a trading range. Similar to gold, I anticipate the next breakout move for silver to be above its 200-day moving average.
The Dow Jones Industrial Average (DJIA) is not in a trading range. It is above both its 50-day and 200-day moving averages and On September 1st and 2nd touched its 50-day moving average from being above it and bounced off and stayed above it.
For the week, gold was down .05%, silver was down .47%, and the DJIA was down .27%.
The economic news last week was the release of the Core Personal Consumption Expenditures Price Index (PCE) the FED’s favorite inflation gauge. It came in inline with expectations at +.2% for the month and +3.3% on an annual basis.
On Friday this past week the monthly Employment Report was released with an unexpected jump in payrolls of 162,000 against a forecast of 53,000. The unemployment rate held steady at 4.1%
On Thursday this week FED Governor and FOMC voting member Christopher Waller said he would vote to hold interest rates steady at the next FOMC meeting on September 15th and 16th.
As John Travolta’s character from Welcome Back, Kotter Vinnie Barbarino said, “I am so confused”. Which is why I look at the charts. Everything is in the price.
Until next time…