With $2,600 about to be hit in gold, and silver regaining $30, one of the rarest gold bull market signals is about to be triggered for the first time since 2001. That is, a golden cross in the gold to S&P 500 ratio. Last time this happened, gold was just at the very beginning of its longest bull market in history.
As for silver, open interest in silver futures has reset 33% lower since May, the biggest fall in open interest since the 2020 lockdown crash, and even rivaling the 2008 silver crash as well. That means silver now has plenty of fuel for a long and deep run just in time for the Federal Reserve to begin what Rafi Farber believes will be its final rate-cutting cycle.
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