In this video, Ira Epstein discusses the current state of the metals market, noting significant declines in gold, silver, and copper prices, while the dollar strengthens, approaching the 100 level.

Confidence in the global monetary system is under threat: rising debt loads, shaky central banks, and financial stress are fueling fears that a system shock may be closer than many expect.

FX markets lack clear direction as the Fed’s hesitation on a December rate cut heightens data sensitivity. Expect low volatility until new data, with strong USD reactions to labour indicators like tomorrow’s ADP.

The Short-Term Elliott Wave outlook from the October 11, 2025 low remains constructive, unfolding as a five-wave impulsive structure.