Breaking the Ceiling After 14 Years ⛏️

Today's number is... 230.3

The Philadelphia Gold & Silver Index closed at the end of last week at 230.3, which is a fresh all-time high — its first in over 14 years.

Here’s the chart:

Let's break down what the chart shows:

• The chart plots the daily close in black of the Philadelphia Gold & Silver Index.

The Takeaway: This isn’t just a breakout.

It’s the end of a 14-year range. 

Closing at 230.3 removes the ceiling that has capped this index since 2011. 

With the ceiling now gone and no historical supply above 230, the tape is running into open air.

Breakouts from bases of this length matter because they release years of stored energy — the kind that can fuel multi-year trends. 

This is a structural move, not a tactical blip.

The size of this base makes a failed breakout a lower-probability outcome if momentum stays strong. 

Right now, the burden of proof has flipped as the index no longer has a resistance level until the market draws one. 

The playbook is simple. Treat 230 as the line in the sand. 

So, are we at the start of the next secular uptrend in gold and silver equities — and if so, how far can this run before the next ceiling even forms?

Let me know!

Grant Hawkridge | Chief Aussie Operator, All Star Charts

The commodity bull market is real — and Gold Rush is how we’re playing it. Each week, Jason Perz and Sam Gatlin break down the action in gold, copper, silver, and the miners, with live alerts when it’s time to act. If you’re ready to ride this trend, now’s the time to jump in. 

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