On July 27th, 2026, I penned an article proclaiming, “Gold may have just bottomed.”
I missed the exact lows by a few days, but the charts are signaling that the lows are in. What I’m about to show you are some of the most bullish charts in the markets today.
Gold is in the process of breaking out of a SIX-MONTH falling wedge formation. This pattern is signaling that the next leg up for gold is starting right here and now. And the upside target for this breakout is $7,000 per ounce.
Gold miners are looking just as, if not even more, bullish. The entire complex is breaking out of its own multi-month falling wedge formation. And the angle of this wedge is even steeper, suggesting an even more explosive move is coming.
And why wouldn’t it? The fundamentals for gold miners haven’t been this strong in decades.
All-In Sustaining Costs (AISC) for the entire industry are roughly $1,600/oz. With gold prices over $4,000 per ounce, gold miners are insanely profitable. As a result, median profit margins for the top 20 precious/base metals miners are ~31% vs. ~17% for Financials/Tech, the next-best S&P sectors.
Yes, gold miners are nearly TWICE as profitable as the tech industry.
Moreover, These companies are now putting this capital to work on behalf of shareholders. The precious metals industry has effectively cut its long-term debt-to-equity ratio in half. This directly reverses the prior-cycle playbook: last cycle, miners diluted shareholders through equity raises and M&A at cycle peaks; this cycle, majors are net retiring shares at record cash flow levels.
Now imagine what happens to these fundamentals if gold rises to $7,000 per ounce over the next 18 months?
Again, this is one of the most asymmetric setups in the market today. And generalist investors own almost none of it. By the time the re-rating of precious metals miners is complete, today’s prices will look like a gift.
In terms of profiting from this, we just published a Special Investment Report covering five investments you can use to profit from the next round of inflation.
The report is titled Survive the Inflationary Storm. It explains my top precious metals plays — their names, their ticker symbols, and the resources they own. These are high-octane positions that rallied 75%, 140%, 150%, 180%, 280%, and an incredible 574% in 2025. And I wouldn’t be surprised to see them repeat this performance in 2026.
Normally I’d charge $499 for this report as a standalone item, but in light of what is unfolding today, we are making just 100 copies available to the public.
To grab one of the last remaining copies…
Best Regards,
Graham Summers
Chief Market Strategist
Phoenix Capital Research
