This Isn't What A Top Looks Like

Last week, we talked about how the trend is still your friend.

We updated targets for Gold, Silver, and Platinum futures and noted what everyone can see with their own eyes: 2025 was a historic year for precious metals. 

Breakouts were decisive, returns were extraordinary, and targets were getting hit faster than expected. That kind of price action only happens in raging bull markets.

This week, we want to zoom out even further.

Because sometimes the most important insight isn’t about the next level or the next target, it’s about understanding the environment you’re operating in.

The Gold futures chart does a remarkable job of capturing that environment.