Mining Stock Daily JJ Johnston on Silver's Dangerous Position and an 'Ode to Steinbeck
Oct 6, 2025
JJ Johnston, a market commentator specializing in precious metals and author of the Market Vibe Substack, dives into the world of gold and silver. He discusses the strong trend in gold despite overbought indicators and warns about silver's precarious situation, influenced by structural deficits. Johnston shares insights on past short squeezes and how market dynamics have evolved, emphasizing historical patterns. He also reflects on the resilience of markets in the face of political turmoil, encouraging listeners to follow trends and manage risks effectively.
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Gold's Trend Is Powerful Not Broken
- Gold's rally reflects a powerful, fully enforced trend rather than an imminent technical failure.
- Overbought indicators mainly signal trend intensity, not necessarily an immediate top.
Supply Steady, Buyer Pool Widens
- Central banks and foreign buyers are expanding the pool of gold demand while mine supply remains steady.
- A widening buyer base, especially in Asia, supports higher gold prices despite record highs.
Range Breakout Signaled Accumulation
- Long horizontal ranges earlier this year suggested either accumulation or distribution of risk.
- After Labor Day the market answered decisively with a strong rally, implying accumulation by buyers.
