Metals Bull Market Continues, Ira Epstein Says
Key Takeaways
- •Gold remains in a bullish technical position above $4,700 and key moving averages.
- •Silver has not broken above $70 and is seen as being in a consolidation phase.
- •Copper is trading around the $680 resistance level, while platinum’s outlook remains positive.
- •Oil prices are falling even as geopolitical tensions continue around the Strait of Hormuz.
- •Upcoming PCE price index and GDP releases may affect expectations for inflation and economic growth.
Metals Bull Market Continues, Ira Epstein Says
Ira Epstein
Ira Epstein says the metals market is still in a bull phase, with gold holding above the $4,700 level. He says silver has struggled to break through the $70 mark and appears to be in a consolidation period, while copper is trading around the $680 resistance level. Epstein also says the outlook for platinum remains positive, suggesting traders are still watching the group as a whole rather than a single metal in isolation.
He also notes that oil prices are falling even as geopolitical tensions persist around the Strait of Hormuz. In addition, he discusses the possible market impact of upcoming economic releases, including the PCE price index and GDP figures, which can matter because they help shape expectations around inflation and overall economic momentum.
Epstein says gold remains in a bullish technical position, trading above key moving averages, and he expects future resistance levels to come into focus as the metal continues to advance. For market participants following the metals complex, that keeps attention on whether the current strength in gold can extend while silver, copper, and platinum continue to work through their own technical setups.
About the author
Ira Epstein
IraEpstein.com
LINN \u0026 Associates
Over the past 35 years, Ira Epstein has developed a reputation for providing clients with easy-to-use technology and teaching practical trading know-how. A number of his brokers have more than 30 years of trading experience. No matter how technology changes the methods of entering orders, there is no replacement for having "been there and done that before." It is the blend of services that brings things together.
Whether it is education, market information, or trading platforms, the firm provides solutions.
Ira began in the futures markets in 1969. Over the years, he worked his way up from the ground floor as a "floor runner" and ultimately became a Floor Trader. In the mid-1970s, Ira made a career shift within the industry to develop both retail- and commercial-based clientele. His customer base grew to the point that in 1984 he founded "Ira Epstein \u0026 Company," a trading firm specializing in retail, commercial, and self-directed discount futures trading. Along the way, Ira 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 has dramatically changed both how information is delivered and how trading takes place today.
One of the ways Ira and his brokers showcase their talents is through emails of market information and Ira's "Futures Videos," which can be viewed on the website, through Market Center, Linn-IraChart Software, and on YouTube.
IraEpstein.com
