A Contrarian’s Take On Gold and Silver

August 18, 2023

by David Brady Sprott Money

Even though all major lows in the metals and miners are by definition extreme oversold and universally bearish, the majority of retail traders, and many professionals too, throw in the towel at such troughs when they should be buying. Today, I want to provide a contrarian’s perspective on gold and silver and go through the various signals that tell us that, while we could go lower yet, the bottom in the entire precious metals sector is not far away.

Fundamentals: The Factors Influencing Gold Price

It looks like the Fed is done hiking rates, at least for the time being. The probability of another rate hike in September languishes at 11.5%.