With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
"Hopefully we do get this bear market unwind, we see US$3,100 for gold — because that's going to be an epic opportunity to purchase," said Chris Vermeulen of TheTechnicalTraders.com.
Chris Vermeulen, chief market strategist at TheTechnicalTraders.com, shares his outlook for gold and silver, saying the precious metals have entered a bear market.
In his view, gold could fall as low as US$3,100 per ounce as this downtrend plays out — however, after that he expects a dramatic turnaround.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
The gold price fell below the US$4,100 per ounce level midway through the week, but recovered quickly to close Friday (October 9) near US$4,200.
Silver followed a similar trajectory, sinking as low as US$58.75 per ounce on Thursday (October 8) before bouncing back to finish the period just under US$61.
The US Federal Reserve's September meeting minutes, released on Wednesday (October 7), appear to be behind the temporary precious metals pullback.
The document shows Fed officials expect to raise interest rates again before the end of the year, although it doesn't indicate whether they see an October or December hike as more likely — as usual, participants said they will focus on responding to "incoming information."
The minutes also reveal that the full slate of 19 officials supported last month's decision to increase rates, noting that it will help support the central bank's 2 percent inflation target.
However, they were divided on other fronts, with some seeing the hike as a way to manage inflation risks, and others viewing it as necessary based on their economic outlook.
It's worth noting that the experts I've been speaking with continue to emphasize that the Fed is between a rock and a hard place when it comes to rates — in other words, cutting rates or leaving rates unchanged will cause problems, as will raising rates.
Don Durrett of GoldStockData.com describes the situation as a "doom loop," and in his view it could get out of hand faster than many expect. Here's how he explained it:
"A doom loop means that there's nothing the Fed can do. That no matter what the Fed does, it just gets worse. So if they fight inflation, the economy gets bad. If they support the economy, inflation gets bad. And then the average person starts to see there's no way out. That's what recognition of the doom loop is — there's no way out.
"Now, we've said there's no way out for the last 10 years as far as paying off the debt, but what we haven't said yet — and I'm still in the minority here — is that this is going to spiral out of control soon. There's nothing they can do."
Durrett's interview also covers how he's preparing his portfolio for this scenario, so I definitely recommend checking out the full video if you haven't already.
And as a final note on the Fed, CME Group's (NASDAQ:CME) FedWatch tool now places the odds of an October rate rise at less than 20 percent, down from just under 30 percent this time last week.
The likelihood increases substantially for the December Fed meeting.
Gold may be down from the record price levels seen earlier this year, but underlying trends continue to suggest the long-term story remains strong.
New data from the World Gold Council shows that US$10 billion flowed into global gold exchange-traded funds (ETFs) in September, taking the Q3 number to a record US$31 billion.
While all regions recorded inflows last month, Europe and North America took the lead. Notably, the WGC states that UK-listed funds saw inflows in 12 of the 13 weeks through September 25, marking the most consistent run since 2022 and pointing to sustained interest.
In terms of North America, the WGC suggests that concerns surrounding inflation, stock valuations and bond market volatility may be driving gold's appeal.
On a similar note, the People's Bank of China continued its gold-buying streak in September, snapping up 740,000 ounces to mark its 23rd straight month of purchases.
The buy is reportedly the country's largest accumulation since September 2023, and may be a sign that the Asian nation is taking advantage of today's lower prices.
Interestingly, a CNBC article posted this week states that Hong Kong imported a record 112.7 metric tons of Russian gold in the first seven months of 2026 — that's up from just 3.3 metric tons in 2021, before the west imposed sanctions following Russia's invasion of Ukraine.
Although now there are more diverse pathways into China, Hong Kong has traditionally been the "main gateway" for the country's gold imports, and it's seen as a natural alternative for Russia's exports of the precious metal under today's circumstances.
“We do know that whether it’s the PBOC or if it’s the Chinese consumers, they’ve all been buying quite a bit of gold," Charles Chang of S&P Global Ratings told CNBC.
Want more YouTube content? Check out our expert market commentary playlist, which features interviews with key figures in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.
And don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Andrew O'Donnell of the Market Mindset explains how he's using artificial intelligence tools to unearth overlooked opportunities in the junior mining space, emphasizing the importance of tracking companies that follow through on their plans.
"I've got a long-term horizon, and that I think is the biggest key," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Steve Barton, host of In It To Win It, weighs in on the recent price declines in gold and silver, outlining the odds for their next moves. He also discusses uranium, saying that current levels represent a strong entry point for investors.
"I think this bet is a slam dunk. I think this is a really, really good bet," he said.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
"The best place to find a new mine is right next to an existing mine."
GoldInxs Mining (TSXV:INXS,OTCQB:INXGF) President and CEO Nick Michael says that idea is why the company is exploring its flagship Fishpot property in Central BC.
Speaking to the Investing News Network at the Precious Metals Summit in Beaver Creek, Colorado, Michael said Fishpot is in the same mineral belt as Artemis Gold's (TSXV:ARTG,OTCQX:ARGTF) Blackwater mine and Evolution Mining's (ASX:EVN,OTCPL:CAHPF) optioned Clisbako property.
The company says only 378 meters in two holes have been drilled historically on the 5,509 hectare property. Since acquiring Fishpot, GoldInxs has built a geologic model using geophysics, geochemistry, airborne magnetics and a recently completed 3D induced polarization survey.
Michael said a drill program of about 2,000 meters will start in October.
"Success for us would be a 2,000 meter drilling program that's completed, that proves that we have continuous mineralization at depth and also validates our geologic model as it stands today," he said.
He described the company's approach as "targeting first and drilling second."
"We're not drilling looking for a great intercept that we can quickly go out and broadcast to the world," Michael said. "What we are interested in instead is collecting information, valuable information, and learning about this deposit."
Watch the full interview with GoldInxs President and CEO Nick Michael above.
With an eye for detail and over a decade of experience covering the mining and metals sector, Charlotte is passionate about bringing investors accurate and insightful information that can help them make informed decisions.
She leads the Investing News Network's video and event coverage, and guides a team of writers reporting on niche investment markets.
Don Durrett of GoldStockData.com shares his updated gold and silver price outlook, as well as how his portfolio is focused given the current environment.
"You have this unbelievable opportunity here — the leverage is just somewhat crazy," he said.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
