Gold Miners Cheapest In 40 Years As Gold Jumps 1.5%
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Recording Date 7-3-2026. The S&P 500 pushed 1.8% higher on surprisingly normal holiday week volume, but with back to back doji candles near the upper trend channel, I'm leaning lower next week. The U.S. dollar slipped 0.4% and bounced near support, but RSI and MACD still look weak, so I'm only slightly bearish. The 10 year yield jumped 2.5% to 4.485 after breaking above the downward channel, the 20 day, and the 50 day moving averages.
Gold gained 1.5%, PHYS rose 1.4%, and GDX climbed 1.9%, and I still like miners because of positive RSI divergence, even with bear flag and death cross risk. Silver jumped 2.9%, PSLV gained 3.9%, and SIL rose 2.3%, but $64 resistance is the major wall I'm watching before getting too excited. Copper rose 0.9% and looks stronger than COPX, while uranium slipped 0.1% even as term pricing improved from $94 to $95.50 per pound and SRUUF surged 3.9%.
Oil rose 0.5%, XLE fell 1.2%, natural gas dropped 2.2%, and coal still looks buyable with Pacific thermal coal up 3% and Atlantic thermal coal up 8%. Nickel futures fell 2.6% after BYD battery concerns, and Bitcoin rallied 5.5% toward $66,000 resistance, where I'm watching closely for a stall.
Key Insights in this episodeΒ
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S&P 500 rose 1.8% for the week, but after doji candles near the upper trend channel, I'm leaning bearish for next week.
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U.S. dollar fell 0.4%, bounced off support and the 20 day moving average, but RSI and MACD still leave me 50 50 with a slight downside bias.
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Gold gained 1.5%, PHYS rose 1.4%, and GDX climbed 1.9%, with positive RSI divergence making miners look attractive despite bear flag risk.
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Silver jumped 2.9%, PSLV gained 3.9%, and SIL rose 2.3%, but the $64 resistance zone keeps me cautious on a clean breakout.
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Copper rose 0.9%, uranium slipped 0.1%, and SRUUF surged 3.9% as uranium term pricing improved from $94 to $95.50 per pound.
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Oil rose 0.5%, natural gas fell 2.2%, coal stayed strong with Atlantic thermal coal up 8%, while nickel dropped 2.6% and Bitcoin rallied 5.5% toward $66K resistance.
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Chapters
0:00 S&P 500 Holiday Rally And Next Week Bias
4:22 Gold Positive Divergence And Miner Limit Orders
12:00 Silver Resistance At $64 And PSLV Pullback
13:53 Copper Breakout Setup And COPX Buy Levels
15:47 Uranium Term Price Surge And SRUUF Volume Spike
21:00 Oil Gap Filled And XLE Summer Pullback
22:31 Natural Gas Bull Pennant And BOIL Day Trade Setup
24:16 Coal Value Setup And KOL Buy Zone
25:09 Platinum Channel Setup And Palladium Watch
26:03 Nickel Breakdown Risk And BYD Battery Pressure
28:20 Bitcoin Rally Into $66K Resistance
28:56 Premium Service Firecracker Sale And Closing Thoughts
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DISCLAIMER: I am not a financial advisor. This is not financial advice. I only express my opinion based on my experience, and your experience may be different. These videos are for educational and motivational purposes only. Investing of any kind involves risk. Do your own due diligence. Every investment and bet comes with the risk that your capital could go to zero.
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