Jeffrey Christian of CPM Group shared insights on precious metals, highlighting gold’s current range-bound trading and silver’s weakness. Gold is hovering around $4,160, stuck between $4,050 and $4,200. Christian warns that a prolonged sideways movement could lead to a drop toward $4,000 or lower in the near term. Despite this risk, CPM anticipates stronger gold demand and higher prices in the coming months, possibly extending into 2028.
Silver, trading near $58.25, shows more vulnerability than gold. Christian suggests prices may dip further as the U.S. congressional elections approach but expects political and economic risks to push prices higher afterward. He also reviewed platinum at $1,661 and palladium at $1,119, noting palladium’s earlier decline below $1,100.
Christian presented data on the dollar’s strength and the rising holdings of dollars and U.S. Treasuries by central banks and international investors. He clarified that a stronger dollar does not necessarily mean lower gold and silver prices, as investors often diversify rather than reduce total dollar holdings during uncertain times.