Our Gold Cycle Indicator finished at 150. Expect the GCI to enter cycle bottoming around mid-year.
Gold
I think gold is forming an interim low, and I expect a rebound into May before slipping back towards $4,300 for a mid-year low.
Silver
Here’s a rough estimate of what I expect in silver over the next few months. A decisive breakdown in the dollar would change my outlook.
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I see platinum bouncing into May, then slipping into a mid-year low, potentially testing support near the October $1,750 high.
GDX
Here’s a rough estimate of where I think miners are heading over the next few months. A strong breakout above the April high would invalidate this view.
GDXJ
I see juniors potentially testing or breaking marginally below the March low, perhaps sometime in July. A decisive breakout above the April high would alter my outlook.
SILJ
If miners bounce into May and rollover as expected, I’ll look for a retest of the March low sometime in July.
S&P 500
The S&P 500 jumped to new all-time highs as major tech earnings beat estimates. I’d be surprised if this marks the beginning of a sustained upswing, and therefore believe the upside is somewhat limited.
Bitcoin
Progressive closes below the 50-day EMA ($73,675), paired with a breakdown in momentum (above), would support the onset of the next downswing.
In Closing
Gold and silver are taking a much-needed breather after explosive gains in 2025. I see gold reaching $8,000 in 2027 and potentially as high as $15,000 in 2031. Silver will need time to digest its surge to $120, but my work supports a target range of $300 to $500 within the next few years.
AG Thorson is a registered CMT and an expert in technical analysis. For more price predictions and daily market commentary, consider subscribing at www.GoldPredict.com.
