Precious Metals Price Pullback – Is Now the Time to Buy?

Sean Brazney: Hello, my name is Sean Brazney, Sales Director for Monex Deposit Company. I am here with Jeffrey Christian, Founder and Managing Partner of CPM Group, Commodities Research Firm, also, the author of our, 2024 Precious Metals in a Rising Storm Report. Thank you for being with us today, Jeffrey.

Jeffrey Christian: Sean, It’s good to be with you.

Sean Brazney: Now looking at the prices, we’ve had quite a run going back to May of this year in precious metals, we saw gold hit a high, I think on September 26, just over $2,700 dollars an ounce. Gosh, Friday, silver tapped over $33 dollars an ounce, I think on an intraday basis. Since then, today, we see a little bit of a downward move in the market and when I talk to investors, we talk to about the pullback, we’re almost down three dollars, I think, in silver since Friday and about $80-$85 dollars down in gold since September. I tell them, “You’re welcome, we backed up that train just for you. Now is your chance to potentially think about a buying opportunity.” But really when you look at the market, not a lot changed. So with this pullback, do you really think this is a chance to look at it as a buying opportunity?

Jeffrey Christian: Absolutely, and I think you know, that it’s a short window… is a very small window of a buying opportunity. The reality is yeah, gold touched $2,700 dollars, it’s at $2,650 I think as we speak, you know that’s not off much and as you said silver got to $33 dollars and it’s been holding above $31 dollars. We wouldn’t be surprised to see it test $31 dollars, it’s a quarter below where we were this morning, but we think that the period… first off yeah, it’s a natural profit taking a consolidation after a sharp upward move, and it’s a very small one, and we think that the small size of the decline off of those peaks represents the degree of nervousness in the markets and in the world about the state of the world economically and politically. Our view is that this buying opportunity is just in early October. We think that within a few days of when we’re recording this you’re going to be into the second half of October, you’re going to be moving into the presidential and congressional elections, the congressional elections are very important perhaps just as important or almost as important as the presidential election, you have Iran pushing Israel to try to catalyze a crisis before the US election, you have Israel doing planning for what it plans to do after the election, there’s a tremendous amount of uncertainties. Then you have the opportunity or the threat of not just one October surprise, but maybe several October surprises, on both sides in both campaigns. So, I think that once you get into the second half of October, the period of lower prices or weaker prices if you can call $2,650 dollars low is over, and I think that the gold price and the silver price probably rise from here forward, not just for the next four weeks or into the election, but into the post-election period and really probably through most of the first quarter of 2026. So, we think this is a buying opportunity, a short-term buying opportunity with a very small window.

Sean Brazney: When you see a sharp move in the marketplace whether up or down, you know people get a lot of bad information when they’re out there online. It seems like the information gets worse when there’s moves like this in the marketplace. It’s one of the reasons why I love CPM group, and your expertise, your decades of experience, and why our customers and our viewers really need to call Monex and talk to an account representative. Get the report in your hands, because Jeffrey Christian and his team have been looking at this at the beginning of the year, and man, they’re spot on. As the year goes through, this information is really top of the line. So call Monex today, talk to an account representative, and get your free report today.