The Day Gold And Silver Turned Bullish For 2026

GOLD

Now, I believe we saw the bottom of the recent Gold sell-off on July 29th (for more details, see 8/3/26 Weekly Market Report). We will see a turn in the Gold price in August. It may test the $4,000 support level again, depending on the news coming from the on-again, off-again Iranian war, but the direction for the balance of 2026 is higher. Gold should break above $4,200 by the end of August and back to $5,000 by year-end.

Gold stayed above $4,050 per ounce in overseas trading last night. But saw selling in the U.S. after a negative statement about Iran coming from President Trump.

At 11am PT today, Gold is trading at $4,035, down $14 on average volume.

SILVER

Silver stayed above $58 per ounce in overseas trading last night, But, when trading moved to the U.S., the Silver price reached a low of $56.46 per ounce before seeing bargain buying.

At 11am PT today, Silver is down $0.30 per ounce, at $57.65 on normal volume.