Metals: War...Gold Down No War...Gold Up; Ira Epstein's Video for 5-28-2026

追加: 2026-05-31

[00:00:14]Good evening. I'm Raphael and here we are with your metal market wrap-up and this wrap-up is for the evening of Thursday and we are at the 28th of May 2026 about 5:10 p.m. Central Time and an interesting day. What we're all waiting on right now is two, the United States and Iran having a deal. Do they both sign off on it?

[00:00:37]I've heard that the president, our president, hasn't signed off on it yet.

[00:00:41]So, we have to wait and see. The markets are waiting. You had a phenomenal rally today in stock indices, a really neat one. And you had a nice rally off the lows in the metals, but without a deal, is that going to fleet and the market goes the other way? That is the big question that we all have and we have to be concerned about. I don't have an answer for you.

[00:01:02]What I do have an answer for before we go into anything is my Memorial Day sale ends today, the 28th at 11:59 p.m.

[00:01:11]Central Time. You want to take advantage of any of my research for 1 year?

[00:01:17]40% off my courses.

[00:01:20]40% off, you go to irapsteain.com.

[00:01:23]If you're on a PC, the link up here should work.

[00:01:26]If you're watching me on YouTube, the link over there should work. I don't know how much works on phones and that, but I can tell you it does work if you're on your PC. So, I hope you take advantage of that. Let's also take a look at what we get tomorrow. You're going to get the Chicago Business Barometer, that'll come out after 7:30.

[00:01:45]We're going to get the advanced trade balance. The last negative number was, and it was negative 87.9 billion. We'll get retail inventories. Last time they were up 7/10 and advanced wholesale inventories up 1.3%.

[00:02:00]We didn't have any estimates to work against right now.

[00:02:04]So, it's an interesting time as I said.

[00:02:06]When we take a look at the chart data, energy prices down still a little bit.

[00:02:11]So, the market is hoping that we're going to get something to to happen. By the time you wake up, if the president's if our president signs off on Iran, you could have have a whole different market look than you do right now. Gold would probably gain on that. The dollar wouldn't surprise me if it were down further. Most currencies up off that type of news.

[00:02:31]So, when we look at the gold market, you've been falling and for the week you're not down even a percentage point.

[00:02:37]You're down basically 2/3 of a percentage point at this point. Still down $27.

[00:02:43]When you look at the chart, you can see how gold came rushing back today on news that there might be a way out of this.

[00:02:51]You don't have an outside day. What you have is a higher high and lower low, which is no trend at all in the gold market. I made a statement to you for the past 48 hours that I thought the market would try as it often does to hold the 200-day average of closes.

[00:03:08]That's the gray line. I think you see that it is doing that. And the combination with the Bollinger band, this is an area where if you're short, what I said and I'll state it again, this is where I think the pros get out of their shorts. I didn't say they'd go long. Coming out of shorts is very different than going long.

[00:03:27]In momentum, you are still very oversold. And the market has climbed on the gold-silver ratio and it's stayed there most of this week, where the ratio itself is over the red line, the 18-day average of closing, saying that the silver market is weaker than gold.

[00:03:44]In terms of the silver, three four days ago you got up now to the 18-day average. You fell pretty hard from there. You are oversold. You're not trending, but the bias is still down in the market. The copper market is still acting very good. It continues to hold the 18-day average of closes. It's the strongest looking of all the metals right now. And the platinum continues to be on the weak side with a lower high and lower and low. Still not looking very good to me. And in the dollar index, look at the reversal that you had today. But that's to be expected. If you remember my dollar report did about 2 weeks ago.

[00:04:22]And I laid out for you that if peace came, then I think the dollar goes down.

[00:04:27]So, you see that today the market's acting that way. We'll find out if everybody signs off on the 60-day period, observes the ceasefire, because they're not right now. They slapped It's like the US is a parent slapping their kid, and the kid comes back, whacks the father or mother. You know how that goes. I I If I did it at home, I got a broom over my head. I wouldn't even think about it. But today is a different world. I remember my mother hit me over the head with a broom if I'd even look at her wrong.

[00:04:56]Um and that happened often.

[00:04:59]>> [laughter] >> Makes me want to laugh. Um but to make a long story short, this is what we're dealing with right now. They claim that if the 60 days comes about that the US will free up the uh blockade so that goods can make it to Iranian ports, and Iran is supposed to let free passage through the strait. Now, how that could all happen 1 2 3, I have no idea. If the mines are out there, how long should it take to remove them? Where are you? We'll find out more of the detail if big if the deal happens. So, that's how I'm looking at it. You have yourself a good evening.

[00:05:35]Watch the other videos. Hope you take advantage of the sale. Remember, there'll be an icon up there. You can click or irapstein.com.

[00:05:43]Have a great evening.