The David Lin Report · Monday, June 29, 2026
Jeff Christian of CPM Group anticipates a volatile sideways consolidation period for gold and silver, with a downward bias, rather than a 2012-style crash. He suggests this pattern, similar to mid-2025, will precede a rise in prices in the final four months of 2026 due to persistent macroeconomic and political factors.
“So, we're looking at what we're seeing in terms of recent price weakness in gold and silver as just moving into a volatile sideways consolidation pattern. And our expectation is that the prices will start rising again in the final four months of this year into 2027 because the macroeconomic and political environment that drives investment demand hasn't gotten better and our expectation is that while there is as there has been some temporary improvement economically and politically, we think that by September things get worse again.”
“No, it's not really our our view. I mean, we've we've done that and a lot of our clients have been asking, you know, so were these the peaks? And partly it was because we were saying that we thought gold silver would peak around the period 2024 2027.”
“And we're looking at 2026 as more like 2025 than 2012 or 2012 2013.”