The silver and gold market presents itself as a paradox when we get declines during bull markets that are normally associated with bear markets. This is especially true for silver, which declined about 50% since the recent high, which is almost like the start of the 2011 bear market, and yet silver is undoubtedly in a bull market.
Fortunately, this is not the first time that this has happened, with 2008 being a prime example. And just like for 2008, it is a contrarian signal. Silver is more likely to go higher even faster than it has since 2020, while some might even call for the start of a bear market.
It is like shifting to a higher gear to get the best out of the engine. There is a short drop in the revs before even more power is delivered to go even faster.
Following the 2010 bull market form
Silver continues to follow the 2010 patterns previously pointed out.
In that bull market silver made an important breakout (Sept. 2010), about a year later than a similar gold breakout (Sept. 2009). Silver rallied after its breakout in a similar manner (from a timing point of view) to how gold rallied after its breakout.
Just like gold, silver made an important bottom 21 weeks after its breakout. Silver also made a secondary top 18 weeks after the breakout, which coincides with gold’s top 18 weeks after the breakout.
In the current scenario, silver made an important breakout (June 2025) about 15 months after gold made its similar breakout (March 2024). After the breakout, silver rallied in a similar manner (from a timing point of view) to how gold rallied after its breakout.
Silver made an important bottom 42 weeks after its breakout, whereas gold made a secondary bottom 42 weeks after its breakout. Silver also made a top 34 weeks after the breakout, which almost coincides with gold’s top 35 weeks after the breakout.
This is a strong confirmation signal that the silver and gold bottom is likely in. If the above comparisons are valid, then silver and gold will rally significantly over the coming months. We will continue to monitor progress over the coming months.
This is from my April 2026 silver premium update.
More of this kind of analysis at my premium gold and silver blog or my Silver Long-term Fractal Analysis Report.
