Transcription
Hey everybody, Smarts Silver Stacker here. Hope you're doing well. Welcome to the live stream.
So, this is going to be a quick one. Stick around. There's a lot going on in the gold and silver market today. And I just wanted to hop on live and kind of give you my hot take on this and let you know that the volatility that we're seeing, it's not going to stop. Okay?
Uh, let's start with the chart of gold today. Look at the trading range in gold. Precious metals are getting smacked at the moment, by the way. U, but you know, you see a $10 drop in silver, keep in mind it's dropping from 120 bucks. Um, so, you know, this is just incredible stuff. But the trading range in gold today, okay, the low of the day, oh, we're looking at silver right now. Let me look at gold. Okay, the trading range in gold, the low $5,97, the high $5,598. That is a $500 trading range. That's got to be a record. I mean, if anybody knows, put it in the put it in the chat. Put it in the comments. It's incredible stuff to see the price of gold fluctuating by $500 in a single day.
What we're seeing here, by the way, this is the death throes of the current fiat system. Okay? It's the system that runs the world. It's been around for more than 50 years. Don't expect it to go out quietly.
Now, look, I don't give financial advice on this channel, but hey, if you bought the low today around $5,100, you know, great move. Congratulations. Pat on the back. If you want to take advantage of the dip that we're seeing, check out sdbillion.com. There's a link in the description. I noticed they got these $5 Liberty half eagle gold coins back in stock. Pre-1933 gold $49.99 over spot. Not bad. Nice fractional gold piece right there. They were out of these yesterday. Um, I expect these bullion products to uh become much more difficult to acquire as this uh volatility continues.
Let's look at silver. Silver's trading range today also quite significant. The high 121.64, putting it in a new intraday all-time high. Yesterday, silver closed at, let's see, what did it close at? 116. A record high close. Okay, so silver's range today, 121 to 106. Again, massive volatility, kind of like what we saw on Monday. So, you know, this is not going to stop.
Again, as a holder of physical bullion, I'm sleeping like a baby. You know, do you need to keep an eye on your paper positions? Well, you got to be really careful if you're using leverage, margin, options, that sort of thing. Because uh these moves are going to intensify. But, you know, if you're not too risk-averse, volatility can also be an opportunity for profit. The the move today is just crazy.
Uh, look at copper. Look at what copper did today. Copper earlier in the day was up over 7%. And by the way, uh, if you zoom out, put it on a weekly chart, looks like it's going parabolic, right? Uh, silver is um, you know, already done this. Silver has already moved in a parabolic way. Gold has already broken out in a major. I think copper could be next. So, this is something you're going to want to keep an eye on as well because the dynamics driving this, it's a race for critical strategic minerals as we head towards World War II, which is potentially right around the corner. We'll get to that in just a minute.
Again, I'm going to keep this one quick, so uh, you know, stick around. But the SILJ ETF today down uh 4.8%. It was really interesting this morning. We had silver trading up around 120 bucks and the miners were down. So, I don't know, maybe they were uh forecasting this, maybe they were just leading on the way down, but um, these miners remain one of the the biggest steals out there. I think in terms of valuation, I think buying the SILJ at 37 with silver above 100, it's like buying uh silver back at 30 bucks. Not financial advice, just giving you my take. GDX down almost 5% today. I mean, look at gold. Gold's down, okay, 2%. GDX just getting, you know, smacked down almost 5%. Miners are a crazy uh steal.
Now, from a technical standpoint, if you're a follower of the channel, you know, we've been looking at this chart a lot and I was forecasting, still am forecasting that the $120 level is going to be the critical level. And today we actually touched that. But what did we see? Silver got smacked down from it. Every time we touch 120, seems like silver gets rejected. Now, buyers come into the market quickly. So, I mean, could there be a sharp correction? Could we go down 15, 20% in silver? Yeah, it could happen. Um, anything's possible, but I don't think that a correction of that nature will last very long because buyers want to come in here.
But look at this chart. Okay, the 120 level is basically the 2011 high adjusted for currency creation. This is the M2 money supply divided by silver spot. You can see we pretty much touched that line there today and we got a sharp rejection. So that means two things. Silver could consolidate here for a while. It might have a tough time breaking through 120. Uh, but once we do, that's going to uh initiate the next move of this bull market. So 120 obviously, that is the level to watch. We got this big cup and handle pattern. Uh, silver broke out from at the end of last year. It suggests we're going much higher. This is a 46-year base. I don't think that we've seen the top yet. A move that takes 46 years to uh cook doesn't finish in, you know, a couple of months. So, I'm not, you know, panicking when I see silver correcting here. Corrections are normal. They're healthy. They're part of a bull market.
But, uh, you know, this chart basically tells us that once that 120 level is breached, I mean, look at where the next support is. The next support is down here at the 180. I'm sorry, the 1980 low for this ratio, which would put go uh silver in the high triple digits, like $7, $800 silver. So, you know, this is going to be the level to watch. I think we're butting up against what's going to be the major resistance in this bull market. So, expect volatility, expect to chop sideways.
Um, let's talk about what's happening globally. Uh, look at oil today. Let me switch this back to a daily chart. Oil has broken out from this uh pattern here, this downward sloping channel, and it's catching a major bid today. Why? Because we're probably about to go to war with Iran. Uh, here's the president's post. You've probably seen this going around. This is from yesterday about a massive armada heading to Iran. The fact that oil is rising while this plays out is uh to me a sign that it's very likely to actually uh become a much bigger deal than the most recent strikes back in June.
Okay. Uh, Iran, whatever you want to say about them, they're not Venezuela. Um, they geographically are going to be a much more challenging target. They've got big mountain ranges. They've got support of Russia and China. Um, they've got a lot more weapons than Venezuela did. So, you know, this could be a big problem. Why is oil spiking? Well, it all has to do with this little space right here. If you see my mouse cursor, this is the Strait of Hormuz. Iran has threatened that should the US strike them, it's going to be full-on retaliation. Now, is that just bluster? Is it true? Who knows? But if we do see uh an Iranian response that's on the scale of what they are threatening, that's likely going to mean shutting down the Strait of Hormuz. Something like 20% of global oil production flows through this narrow waterway. I mean, Iran has pre-registered artillery. They've got anti-ship ballistic missiles. They could shut down the strait despite uh, you know, an overwhelming US military presence. It's very possible that they could shut down oil transiting the strait. That would mean instantly triple-digit oil if it happens. It's a major risk here.
Also, if that happens, just watch what happens to gold and silver, right? You ain't seen nothing yet when it comes to gold and silver if we are indeed headed for a major conflict with Iran. Uh, this couldn't come at a worse time, you know, in terms of the global bond markets. Look at what's been happening in the Japanese bond market. Look at what's been happening with the price of gold. Um, you know, I think things are about to escalate in 2026 in a big way. And, you know, I hope they don't honestly because it's uh, you know, I think I saw Rafie Farber say on X recently that silver investors are the only people who lose sleep because their investments are soaring, right? It's not a good sign for the globe, but look, you know, you get the world that you get.
So, sorry, I'm having so sorry, I'm having some connectivity issues here. Apologize if we're uh coming in and out of connectivity. That's pretty much it for today, everybody. I might come back on later to discuss things at the market close. Do me a favor, like the video, share the video, subscribe to the channel, and I will catch you next time. Smarts Stacker out. Stacker out.