In this video: Is the precious metals rally running out of steam? Chief Market Strategist Gareth Soloway alerts investors to a striking "Negative Divergence" on the gold and silver charts—a classic technical signal that institutional money is quietly exiting while retail investors buy into the hype.
In this deep-dive Masterclass, Gareth pulls back the curtain on the RSI (Relative Strength Index). He reveals why this single indicator is currently the most important tool in your arsenal and how it’s signaling a significant correction on the horizon. This isn't just an update; it’s institutional-level education on steroids. Video by Gareth Soloway.
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The precious metals rally is currently experiencing a period of high volatility and tactical profit-taking as of January 15, 2026, but core fundamental drivers suggest the broader bull market remains intact. While prices have retreated slightly from the multi-decade and all-time highs reached earlier this week, most analysts view this as a "mechanical reset" or healthy consolidation rather than the end of the trend.
Current Market Pulse (January 15, 2026)
--Prices have softened slightly today following a record-breaking start to the year, where gold surpassed $4,600 and silver breached $90 per ounce.
--Gold: Trading near $4,600–$4,612 per ounce. It is seeing "noisy" trading amid geopolitical concerns regarding the U.S. and Iran, but technical analysis remains bullish with targets near $4,900–$5,000 for 2026.
--Silver: Characterized by "gut-wrenching" volatility, silver dropped to approximately $89.50–$91.20 today after hitting a peak above $93 earlier this week.
--Platinum Group Metals (PGMs): Platinum is testing support near $2,315–$2,330 after reaching all-time highs in late December. Palladium is trading around $1,836, buoyed by supply concerns despite long-term headwinds from electric vehicle adoption.
Key Market Drivers for 2026
The rally's underlying support stems from several persistent structural factors:
--Geopolitical Safe Haven: Unrest in the Middle East (specifically involving Iran) and U.S. domestic policy uncertainty (including threats to Federal Reserve independence) are driving consistent safe-haven flows.
--Monetary Policy: Expectations for continued Federal Reserve rate cuts (targeting a range of 3.50%–3.75%) lower the opportunity cost for non-yielding assets.
--Central Bank Activity: Institutional "hoarding" continues, with central banks expected to purchase between 756 and 1,100 tonnes of gold in 2026.
--Supply Deficits: Silver and platinum face structural deficits. Silver, in particular, is seeing record industrial demand from solar energy and electronics.
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