Good Morning!

Obviously there have been significant breakouts in precious metals.

In the past 16 months, the 3 most significant breakouts were:

-Gold breaking out of 13-year-long cup & handle pattern

-Gold vs. the 60/40 Portfolio breaking out of a 10-year-long base

-Inflation-Adjusted Gold Price breaking out from 45-year-long base

Today we share the most important breakouts to come...

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1) Gold vs. S&P 500

Gold against the stock market is trading within an 11-year-long base. 

Breaking out from this base will be extremely significant and set the stage for Gold to run to $5000 and much higher. 

Capital still finds US equities a reasonable bet relative to Gold. When that changes, as evidenced by this chart, look out. 

This year, Gold broke out of a 4-year-long base against the stock market and surged higher to the lower end of the 11-year-long resistance. 

It overshot and pulled back as the stock market rebounded and made a new high. 

The sooner Gold stabilizes here (it may have already) and resumes an uptrend, the sooner Gold can breakout and run to $4000.

2) Silver vs. 60/40 Portfolio & S&P 500

Two weeks ago, Silver broke-out in weekly and daily terms out of a 4.5-year-long base against the 60/40 portfolio, to nearly a 5-year high.  

The short-term expectation is the ratio trending higher to the 2016 and 2020 peaks. 

Breaking out from that 11-year-long base could give Silver the ammo to test and break $50.

The bottom chart, Silver against the Stock Market, is very close to breaking out of a 4-year-long base. 

3) GDX vs. 60/40 Portfolio

This looks similar to Silver vs. the 60/40 Portfolio, but is closer to that major breakout.  

GDX has pulled back after testing a 12-year-long base against the 60/40 Portfolio. Resistance is at the 2013, 2016, 2020 and now early 2025 peaks. 

Earlier this year the ratio broke-out of its bottoming base in daily and weekly terms to a new 4-year-high. 

Breaking out of a 12-year-long base would be extremely significant as it would signal a major move out of conventional assets and into gold stocks.

Sponsor Companies

Equinox Gold, which has had struggles has completed its merger/acquisition with Calibre Mining.

The company has potential to grow production 60% in 2026 and is trading at a very low valuation (due to past missteps). 

Calibre are known as elite operators and intend to get the Greenstone Mine ramped up to nameplate capacity and ramp up the Valentine Mine to nameplate capacity in early 2026.

Chairman Ross Beatty has bought over $1.5 Million in stock in the market in recent weeks. 

GoGold Resources (GGD.to, GLGDF) is currently a small Silver producer with a pipeline of two development projects. Its CEO Brad Langille owns a large position in the company and has a very strong track record.

The company is attractively priced and in position to produce 9M oz Silver-equivalent/year in a few years, with another development project that could take it to 16-17M oz Silver-equivalent.

The stock doubled since we called it a buy on December 22, 2024. It is emerging from a complex bottoming pattern, which projects an upside target of C$2.60.

For more analysis of these companies and many more companies, subscribe to TheDailyGold Premium.

4) Barron's Gold Mining Index

The gold stocks made one of the most significant breakouts in capital markets history when they broke-out from a 27-year-long base in 1964. 

From there, the miners surged nearly 21x in the next 16 years. 

When the BGMI takes out the 2008 and 2011 highs, it could be on the launch pad to a much bigger move over the years that follow. 

In the 2030s, gold mining stocks could be as common to or somewhat close to investment portfolios as they were in the 1960s and 1970s.

5) Silver

Last but not least is Silver breaking $50. 

This is the biggest breakout in the modern history of capital markets and the 2nd biggest of all time. 

(Gold in 1972 is #1).

In TheDailyGold Premium....

TDG #944 was a 17-page update in which we updated the notes in our Top 10 Company Table and included an overview of sector news and developments on p2. (I think I will continue this format on p2).

Two of our Top10 companies corrected significantly recently and we have called BUY in recent weeks. It appears they have bottomed.

We trimmed one of these stocks a few times at higher levels. Now is the time to add. Keep it simple.

We also included the full table of our Top 10 Silver Companies.

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Thank you for reading.

I wish you all the best in 2025 and beyond.