If the US dollar (DXY) remains under pressure, precious metals could be a major beneficiary, especially given the increasing geopolitical and nuclear risk (on top of runaway liquidity created) added to the mix.

Right now my work on spot gold argues that a significant correction ended last Thursday at $1,402.98, which represents the start of a new upleg that projects to $1,480-$1,500 next.

The same holds true for spot silver, which projects towards $40.10-40.40 off of last Friday's pullback low at $34.03.

ETFs such as the iShares Silver Trust (SLV) and SPDR Gold Shares (GLD) should benefit.

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.