Friday Recap (6/12/2026)

Current (Last Week) -- (% from ATH | ATH)

AU: $4,218 ($4,328) -- 25% from ATH ($5,608)

AG: $68 ($67) -- 44% from ATH ($121)

HUI: 682 (674) -- 31% from ATH (986)

DXY: 99 (100)

S&P 500: 7,423 (7,383) -- -2% At ATH (7580)

10-Year: 4.4% (4.5%)

This week ended on a calm note, but was volatile. Gold and silver both traded below their 200 DMAs. Plus, they both re-tested their yearly lows. Gold had a yearly low of $4098 on March 3rd. Wednesday, we had a low of $4,023. Silver had a low of $61.02 on March 3rd. On Wednesday, we reached $61.51. Incredibly, after that volatility, silver ended positive for the week at $68, as did the HUI at 682.

Are those the lows for the year? Perhaps, but my guess is no. I do think $4,000 gold and $60 silver are significant support levels, and if they fail to hold, any corrections below these levels will not likely last more than a week or two.

Gold and silver are now likely to go on a run until the next correction. That’s usually how bull markets roll. Anyone who exited the train will have a hard time getting back on. They might be waiting a month or two or three for that next deep correction.

I posted a YouTube video last night with about 25 buy-the-dip stocks with 15+ bagger potential. At the beginning of the video, I review the only chart that matters, which is the gold/S&P 500 ratio. We are waiting for this battle to play out. There will be a winner. Either gold will falter or the S&P 500. I think the winner is obvious. The S&P is screwed because the US economy is languishing, and a recession is inevitable. At least that’s how I see it. The AI bubble is holding up the S&P for now, but that bubble will only last for so long.

Once the S&P falters, gold will begin to climb as the winner. That’s all that matters, and what we are waiting for. Everything else is just noise.

The war in Iran is winding down. Trump claimed this week that a deal was agreed to, but I have my doubts. Either one side is lying, or there won’t be a deal. I say that because one side (Iran) wants to control the Strait and charge a toll, and the other side (USA) does not want that outcome.