Commodities
Home›Commodities›Precious Metals›Strategist warns precious metals may lack sustained up…
Strategist warns precious metals may lack sustained uptrend signals
The Technical Traders’ CEO Chris Vermeulen said chart patterns still point to a downtrend, arguing the recent rush into miners could be herd-driven and prone to a pullback.
Chris Vermeulen, CEO and founder of The Technical Traders, said he remains cautious on precious metals and miners even after a strong rally in gold, silver, and miners. In an interview with MINING.COM, he argued that longer-term chart patterns still show lower highs and lower lows, a setup he views as consistent with a broader downtrend rather than a sustained uptrend.
Vermeulen said the recent buying in mining stocks could reflect herd behavior more than a durable market shift, adding that he expects a pullback and does not fully trust the move. He highlighted a gap between bullish fundamentals for precious metals and the technical indicators he is watching.
He also framed the decision around opportunity cost, saying that waiting through potential stagnation can mean missing returns elsewhere. Vermeulen suggested precious metals could even go dormant for a few years, which he said would be especially costly for investors focused on keeping capital working.
On catalysts, Vermeulen pointed to rising attention to bond-market risk and yields, along with investors looking for alternatives to the dollar. He said fear in the bond market could eventually lead to something breaking, and he expects that dynamic to keep supporting interest in the precious metals space.
Latest closeGold $4,445.30 ▲1.2%|Silver $67.91 ▲2.4%