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Friday Recap (9/19/2025)
DON DURRETT
SEP 19
AU: $3684 ($3585 - Two Weeks Ago)
AG: $43.01 (40.93)
HUI: 577 (537)
DXY: 97.3 (97.7)
S&P: 6664 (6481)
10-Yr: 4.12% (4.07%)
Oil: $62 (61)
The S&P keeps trending, closing today at a weekly ATH (6664), and trading today at an ATH (6678). Gold continues to lead, closing at a weekly ATH ($3684), and trading this week at an ATH ($3707). Silver also closed at a weekly ATH ($43.01), up 48% for the year. Gold is up 40% for the year. Amazingly, the GSR is at 86! That is shocking. Silver is going to continue to outperform for quite a while.
You don't trade a bull market. Today's PA (price action) is a good example. Anyone not riding the train watched gold/silver miner share prices go higher. Many have taken profits already. For example, CDE closed today at $17. Many have likely taken profit. I won't sell until $70, unless the story changes. So, ride the train and buy the dips.
We will get corrections during this bull market in gold/silver/miners, but they are likely to be short-lived and nothing-burgers. The only way our portfolios get damaged is if there is a prolonged correction (more than 2 months), and I don't expect one for 2-3 years, perhaps even longer.
It's a good idea to create a buy-the-dip list, along with how many shares you plan to buy, and fund your account in advance. I have already done that. Also, it's time to plan an exit strategy. I plan to exit from $4500 to $5500 gold, and wherever silver is during that timeframe. If I am bullish at $4500 gold, then I won't sell very much around $4500. I likely will sell my biggest winners first, but only about 75% of each, letting the final 25% stop out on their own.
I expect the S&P 500 to crash sometime in the next 6 months. That crash could begin at any time. We don't need a crash for our miners to move. All we need for the HUI to trend to 1500 to 2000 is for the S&P to stop rising. Once the S&P stops rising, we win. The Fed showed us that they are trapped this week with their chaotic dot-plot. They are all over the place. They don't have a clue what to do next, which was always going to be the case. Get ready for change. It won't be fun change, but an inevitable change, leading to some type of reset in the financial system. Why? Because the US Government is bankrupt.