Patrick Karim: Gold is Bottoming & Setting Up Its Next Big Move

VRIC Media Aug 8, 2026

Summary

Patrick Karim frames gold's and silver's recent rallies as bounces inside a correction, not confirmed monthly-chart breakouts.

Copper's shallower pullback left it in a cleaner uptrend, with the analyst eyeing $8 as the next measure-move target.

The 12- and 36-month moving averages define long-term trend; gold sits 33% above its 36-month MA, signaling a corrective phase.

Oil's main setup is a monthly breakout above roughly $91.50, with implied targets of $115 to $300 if it confirms.

Global yields are breaking out while bonds break down, so the guest stays cautious until charts turn.

Top takeaway The host opens the interview by framing the central question: whether the recent metals rally is an early entry for buyers or another false breakout, arguing this distinction will determine whether investors profit or get trapped.
In his closing recap, he summarizes the guest's view: gold and silver are short-term bouncing but far from their 36-month moving averages and still need to build a base, while copper has had less speculation and 'potentially has some more upside.'

Top takeaway The guest argues the recent gold rally is just a bounce on the monthly chart, not a confirmed breakout — a true breakout will need a fresh base with three reactions and a defined breakout line, which he says does not yet exist.
He notes gold is still 33% above its 36-month moving average as of the August 2026 recording, and argues gold does not V-shape after losing momentum: the historical pattern is sideways, then up.
He sees a possible 25% move in gold over the next couple of months, but warns any gains would be 'diluted' by many months of sideways action afterward, framing this as the 'returns over time' investors overlook.
On silver, he calls it the same story as gold — a short-term four-hour breakout that needs to reset, with a major resistance 'wall' near $71 that must be cleared before a larger move can build.
On copper, he argues it has outperformed gold and silver by not producing a blow-off top, sits 38% above its 36-month moving average, and shows less FOMO, leaving potential upside toward an $8 target.