THE DAY GOLD AND SILVER TURNED BULLISH FOR 2026

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Let’s start with a short recap of the Gold price since the beginning of the year.
Gold started 2026 with the price at $4,325 per ounce, up $1,695 from 2025. Gold reached a high of $5,580 per ounce during trading on Jan 29th, 2026. After reaching the 2026 all-time high, Gold has reached a low this year of $3,942 during trading on June 30th, 2026.

On Wednesday, July 29th, the gold market indicated that it was highly possible that the Gold price would break down and set new 2026 lows.
In early U.S. trading, the Gold price reached a low of $3,995.20, below the key $4,000 per ounce support level.
At that point in time, the price looked very weak because:

• The markets were waiting for the Federal Reserve’s decision on interest rates.

• The U.S. Dollar had reached a new 2026 high of 101.80.

• The Dow Jones was down over 800 points.

• The Oil price was up 6% per barrel.

• President Trump had just said he was going to beat the F**king Sh*t out of the Iranians.

Since June 24th, we have seen Gold trade between $3,942 and $4,183 per ounce, as Gold built a firm floor for the next leg higher.
Now, I believe we have seen the bottom of the recent Gold sell-off, and 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 closed last Friday at $4,040 per ounce, down $11 for the week.

Key Economic data to watch this week:

• August 3rd, Monday: July US Manufacturing
• August 4th, Tuesday: June Factory Orders
• August 5th, Wednesday: ISM Business Services PMI
• August 6th, Thursday: Aug. Weekly jobless Claims
• August 7th, Friday: June Consumer Credit

Today: 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. Gold is currently trading at $4,038.

Last week, Silver traded between $56.70 and $60.20 per ounce. I believe that Silver also bottomed out at $54.70 per ounce and will rally with Gold. Silver needs to move back over the $60 per ounce level in the coming weeks. The premiums have continued to increase on many of the popular Silver investment coins and bars.

Today: 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.

In the past month, I have seen excellent strength in the rare coin market and the increase of serious collectors/investors in many of the key numismatic series. Most of the buying is focused on low PCGS population Gold and Silver U.S. coins in the $10,000 and above range.

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Barry Stuppler has been a professional numismatist for over 60 years and is considered one the nation’s foremost experts in rare coins and precious metals. Mr. Stuppler is a past President of the American Numismatic Association (ANA) and Professional Numismatists Guild (PNG). He is currently chairman of the Federal and California State Gold & Silver Political Action Committees, and president of the
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