Metals Await Gold and Silver Breakout
Key Takeaways
- •Metals fell in early evening trading on August 4, 2026, while negotiations between Iran and Oman over the Strait of Hormuz continued.
- •The talks have contributed to lower energy prices, which Epstein said matters for metals traders focused on inflation and risk conditions.
- •Upcoming job numbers and service-sector indexes could affect expectations for demand and interest-rate-sensitive assets.
- •Epstein said gold may be forming a base as inflation concerns stay in focus, with his bias tied to the 18-day average.
- •He said the gold-silver ratio still favors silver, but silver has moved into overbought territory.
Metals Await Gold and Silver Breakout
Ira Epstein
Ira Epstein said metals declined in early evening trading on August 4, 2026, while discussions between Iran and Oman over the Strait of Hormuz continued. He noted that the negotiations have helped push energy prices lower, an important backdrop for metals traders watching the broader inflation and risk environment.
Epstein also pointed to upcoming economic releases, including job numbers and service sector indices, which can help shape expectations for demand and interest-rate-sensitive assets.
In his view, gold may be in the process of forming a base as inflation concerns remain in focus. He said his trading bias is shaped by where prices are positioned relative to the 18-day average, keeping the emphasis on short-term technical positioning rather than a broader forecast.
He also said the gold-silver ratio continues to favor silver, although silver has moved into overbought territory.
About the author
Ira Epstein
IraEpstein.com
LINN & Associates
Over the past 35 years, Ira Epstein has built a reputation for providing clients with easy-to-use technology and teaching practical trading know-how. A number of the firm's brokers have more than 30 years of trading experience. No matter how technology changes the methods of entering orders, Epstein said there is no replacement for having "been there and done that before." He said the combination of services is what brings everything together.
Whether the need is education, market information or trading platforms, the firm says it provides solutions.
Epstein began in the futures markets in 1969. He worked his way up from the ground as a "floor runner" and later became a floor trader. In the mid-1970s, he shifted his focus within the industry to develop both retail and commercial clientele. His customer base grew to the point that in 1984 he founded "Ira Epstein & Company," a trading firm specializing in retail, commercial and self-directed discount futures trading.
Along the way, Epstein became a leader in trading technology out of necessity, due to increased small-lot trade volume. He was among the first to embrace the Internet, which changed both how information is delivered and how trading takes place.
One way Epstein and his brokers showcase their work is through e-mails of market information and his "Futures Videos," which can be viewed on the website, through Market Center, Linn-IraChart Software and on YouTube.
IraEpstein.com