“Commodities and Markets Breaking Out” - Featuring Dana Lyons & Brien Lundin
Outlook on Silver, Oil, Gold Equities, and the Dollar’s Decline
The commodity bull market is alive across multiple fronts—from explosive moves in silver and platinum to broad-based strength in equities. Dana Lyons shares what his trading models are flashing now, while Brien Lundin makes the case that we’re still early in this precious metals bull market.
• “Silver Broke Out - But It’s Not Done Yet”
Dana Lyons explains why he remains long silver and SLV even after the $34–35 breakout:
“We break that 34 level, we’re looking at about $40 next.”
He notes strong volume trends in SIL and sees the lagging juniors (SILJ) as ripe for catch-up, with positions added on recent pullbacks.
Technical investors should watch for SLV pullbacks to $31–32 as add zones.
• Oil’s Breakdown Reasserts Bearish Bias, Despite Geopolitical Spikes
Lyons describes how oil's failed rally above its former multi-year support around $65 triggered a bearish reset:
“Benefit of the doubt is back to the downside.”
While the XLE ETF briefly tested key resistance near $90, it failed again - suggesting near-term weakness unless it can break decisively higher.
Energy traders may want to avoid chasing rallies until key technical levels are reclaimed.
• The Most Unusual Gold Bull Market in 20+ Years
Brien Lundin emphasizes what makes this gold cycle unprecedented:
“This bull market has been driven by central bank demand - not investor sentiment.”
Unlike past runs, silver and junior miners have lagged - though that may be changing as financings accelerate and TSX Venture begins outperforming GDX.
Key takeaway: The sector is shifting from monetary metal demand to broader investor participation.
• Equities Broadening Out While Dollar Weakens - Fuel for Commodities
Lyons notes strong relative strength across sectors and regions:
“Europe remains a leader, but emerging markets are now catching up fast.”
Meanwhile, the USD has broken support around 98–99 on the DXY, with downside momentum intact - setting up continued tailwinds for commodities.
Investors should watch emerging market funds and commodities for potential upside tied to dollar weakness.
• Copper, Platinum, and Mid-Tier Miners: New Drivers for Q3
Both guests highlight the “other” metals getting attention:
Platinum: “Explosive, but unsustainable unless it consolidates.”
Copper: “COPX and COPJ showing breakouts; mid-tier miners leading.”
Gold equities: Mid-tiers pushing high-cost mines to production, not waiting for M&A.
Lundin notes:
“The first majors to act will get the best deals - but right now, it’s the mid-tiers doing the work.”
🎧 Click here to listen to the full interview and get the complete breakdown.
🔔 Don’t miss future episodes - subscribe and leave us a review!
Listen & follow the KE Report Weekend Show on:
YouTube | Spotify | Apple Podcasts | X (Twitter)