Price Is Going ‘Much Higher’ for One Precious Metal After Gold and Silver Blow-Off Tops, According to Veteran Trader Peter Brandt

Renowned trader Peter Brandt is bullish on one specific precious metal, predicting a significant increase in value.

Brandt, who has a massive following of 835,400 on X, suggests that palladium is poised for more upward movement, although he cautions that it may experience a retracement of over 17% from its current price.

“Palladium is set to climb higher, either from its current levels or after a pullback towards $1,650-$1,700.”

Currently, palladium is trading at around $1,768 per ounce, showing a decline of over 6% for the day.

In addition, Brandt suggests that platinum might be due for a correction following a significant breakout.

“Precious metals seem to be reaching their peak. While it’s hard to predict the exact top during a peak, it’s unwise to short at this stage. Peaks can lead to substantial price increases, but we are approaching an intermediate top in terms of time. Note this if you’re one of those inexperienced traders who make such predictions…

I’m not saying this is the ultimate top. Only inexperienced traders would interpret it that way – and you are not one of them. I believe precious metals will see much higher prices, but there are too many overconfident bulls who think they have it all figured out.”

Platinum is currently priced at $2,265 per ounce, showing a decline of over 1% for the day.

Lastly, Brandt warns about a potential deep correction in Bitcoin based on previous cycles, while predicting that the next cycle peak will occur in almost four years.

“Bitcoin is truly unique, and there may never be anything like it again. Over the past 15 years, BTC has experienced five exponential surges on a logarithmic scale, followed by at least 80% declines (the current cycle isn’t over yet)…

I have already forecasted that the next peak of the bull market will be in September 2029.”