We have been liking gold and saying it is a time to be buying, not selling. We have been saying this for a while now and as you know it is not easy to time the market perfectly. But the main thing is to have conviction based on facts. People who are selling right now are doing so because they see the price dropping and they are scared. Maybe this is the top. We strongly feel it is not. We think this is the gold bottom for 2026 and we think people selling here are going to regret it. If anything this is a time to be using the dollar cost averaging technique we wrote about.
Gold was $4,800 USD when we first wrote about why we think it is a good time to buy. Then it dropped to $4,686 and we said it again. Then the oil crisis hit and gold kept falling and we kept saying the same thing. The price is lower. The opportunity is better.
Along with our opinions on why we think gold has bottomed for 2026, Lance Lewis, someone we have been reading up on for years and who is pretty good at timing these things, brings another perspective into why this could be the bottom. And besides writing about it we also put our money where our mouth is. On Wednesday June 10 at 6 PM when markets opened, we did just that. Gold was at $4,042 USD. About $5,600 CAD. We believe this is the gold bottom for 2026.
What Lance Lewis Is Seeing
Lance Lewis runs Lewis Capital and publishes the Daily Market Summary. He has been doing this for over 20 years and we have been reading his work for years. He is not a social media guy. He manages real money and his timing on gold has been consistently sharp which is why we pay attention when he flags something.
Yesterday he pointed out that the Bloomberg Commodity Index RSI just dropped below 30. Oversold territory. The last time this happened was April 2025. And what happened in April 2025. Gold surged 10% in three days.
After that surge gold pulled back about 11% over the following weeks. Profits got taken. Normal consolidation. Then it resumed climbing and went on to hit new all-time highs for the rest of 2025, finishing the year up roughly 60%. The April 2025 RSI signal was not a top. It was the start of one of the best runs gold has had in decades.
Nobody is guaranteeing a repeat. But when you see the same oversold reading that preceded a massive move last time and the macro setup underneath is arguably even stronger now than it was then, you have to take that seriously. We do.
Why We Think This Is the Gold Bottom for 2026
Gold dropped 25% from its January high of $5,589 to the June 10 low of $4,042. That kind of correction shakes out everyone who was in for the wrong reasons and scares the people who were in for the right reasons into questioning themselves. That is what corrections do. But the stuff driving gold higher has not gone away.
New Fed Chair Kevin Warsh just had his first FOMC meeting. Held rates at 3.5% to 3.75%. Hawkish tone. Talked about getting back to 2% inflation. The dot plot split 9-9 between hold and hike. Short-end yields shot up and markets did not like it. That is maximum pessimism and that is usually where bottoms form. Everyone panics, everyone sells, and then reality starts to show up again.
Inflation is at 4.2%. The economy is slowing. Central banks added 244 tonnes of gold in Q1 and came back in April with another 17 tonnes. Poland alone has added 45 tonnes this year. These are institutions with data and analysis capabilities that we do not have access to and they are buying gold at these prices not selling it. That tells you something.
Warsh sounds tough but he is running a committee split right down the middle with inflation above 4% and an economy that is losing momentum. He is not going to hike into that. He is talking tough while the data is going to force his hand the other direction eventually.
The Iran Situation Is Getting Priced In
The Iran war and the oil spike were the story from February through May. Every headline moved markets. Oil went crazy. Gold got dragged down because oil pushed inflation expectations higher and that kept rates elevated and strengthened the dollar.
But markets adapt. People get used to things. It happened with Ukraine. Early on every headline about Russia moved everything. Then over time the volatility cooled off. The war continued but it stopped being the thing that dominated prices every single day. It got absorbed.
Same thing is happening with Iran now. Ships are starting to move through the strait again. Trump and Xi agreed to keep it open. A peace deal framework is out there even if the details are messy. The market has had months to digest this and the shock factor is wearing off. Oil is only up 2.7% over the past 30 days which is nothing considering what the IEA called the largest supply disruption in history. The momentum is fading.
The Iran war premium fading is one of the reasons we think we are looking at the gold bottom for 2026 and not just another dip on the way down. When oil fades, rates follow. When rates follow, gold gets its tailwind back. We think that process is starting.
The Crash Is Still Coming
We think gold and silver and stocks are all going higher from here. But we also still believe a major crash is coming. We wrote about that in our crash prediction article and our view has not changed.
Paul Tudor Jones said recently that if you buy the S&P at its current valuation with a P/E of 22, history shows 10-year forward returns are negative. He said the current setup is more leveraged than anything he has seen including 2008. The stock market is really high and it is going to be really hard to make money from here. Those are his words. This is a billionaire who called the 1987 crash before it happened. He is not predicting a crash. He is just looking at the math and saying the math does not work at these levels. That lines up with everything we have been writing.
We are buying here because we believe in the position. But this could be a short-term play or a long-term hold depending on what happens next. In our past articles we said we expected the crash to come. We have not seen the signs yet that we are looking for. Trump has somehow managed to postpone it. But it is inevitable. It is just a matter of when.
When we see those signs we will share them. We will keep our readers posted on when we think the party is ending. For now the party continues and we are positioned to take advantage of it.
Gold Bottom 2026: Where We Stand
Gold at $4,042 on June 10. Now at $4,250 a week later. Already up 5% from the low. The Bloomberg Commodity Index showing the same oversold signal that kicked off a 10% surge and a 60% year last time. A new Fed chair who sounds hawkish but whose hands are going to be tied by the data. Central banks buying aggressively. Goldman targeting $5,400 year-end. JPMorgan at $6,000.
We have been saying buy since $4,800. The price is $4,250 now. If we liked gold at $4,800 we love it here. We bought at $4,042 because we believe this is the gold bottom for 2026. Lance Lewis just added another reason to feel good about the timing. And every major institutional forecast says gold ends the year significantly higher than where it sits today.
We wrote about silver being a good investment in Canada and that has not changed either. Silver has been outperforming gold over the past month and when gold catches up silver is going to move even harder.
Check the live gold price in CAD and the live silver price in CAD. Browse our gold bars and silver bars.
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