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Gold Surges 2.7%

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Source: Barry Dawes 10/01/2025

Barry Dawes of Martin Place Securities shares his thoughts on the gold and silver market and takes a look at a few gold majors.

I watched in amazement as gold rose US$10, US$20, US$35 and US$45 yesterday and into the evening and then saw US$+74 Monday morning.

The gold bulls would be cheering.

Up 2.7%.

A 2.7% rise is a big daily move, especially in gold.

Market size in now US$26.5 trillion with US$703 billion added today and US$8.5 trillion since January 1, 2025.

So a few billion US$ buying today made US$703 billion.

This gold business is a real money maker!

Gold could now move higher to test the top of the channel and this could coincide with US$4,000 and the parabola backtest.

And possibly US$50 for silver.

And then what?

Upsloping wedge:

Backtesting parabola:

So, do I have this wrong?

Maybe.

However, the surrounding environment does still not support this strong gold price.

Just look at the overnight action in the gold stocks below.

Gold Stocks

  • Upsloping wedges in these indices.
  • Island reversals.
  • New highs but closes at the lows.

Look at these majors.

These aren’t inspiring results for a 2.7% rise in gold.

Big volumes look like distribution.

Not the signs of another upleg.

Newmont Corp. (NEM:NYSE; NGT:TSX; NEM:ASX) has a new high but closed lower.

Barrick Mining Corp. (ABX:TSX; B:NYSE) has no new high — closes at lows — possible island reversal? Ugly.

Agnico Eagle Mines Ltd. (AEM:TSX; AEM:NYSE) has a new high, but is closing at lows. Island reversal?

Kinross Gold Corp. (K:TSX; KGC:NYSE) has no new high, but closed at lows. Island reversal?

Barrick CEO Mark Bristow retires — most certainly at the top here!

Great timing.

Silver

Silver is trying to get to the previous US$50 high.

Parabolic rise phase. How high?

This looks like silver is to rise versus gold. Silver up or gold down?

Head the markets.

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Important Disclosures:

  1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Barrick Mining Corp. and Agnico Eagle Mines Ltd.
  2. Barry Dawes: I, or members of my immediate household or family, own securities of: None. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
  3. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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Source: https://www.streetwisereports.com/article/2025/10/01/gold-surges-2-7.html


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