Surprise Trump-Backed Gold Reset Slated for July 4? Will It Send Gold to $10,000? Gareth Soloway

Danielle and Gareth Soloway on the Gold/Silver Downturn

Danielle and guest Gareth Soloway (Verified Investing) discuss a sharp downturn in gold and silver, the market narrative around a potential July 4th “gold reset,” and technical levels they believe could mark major bottoms.

“July 4 gold reset” headline

• A circulating story suggests a Trump/Judy Shelton–inspired Treasury plan could involve a gold revaluation/reset tied to the US approaching its 250th anniversary (around July 4).
• Soloway says he would like such an outcome, but argues it’s unlikely to happen on July 4.
• He points to current gold price action as evidence that markets are not positioning for a near-term reset—suggesting major players may already be acting as if it won’t occur then.
• He still finds the idea fascinating and worth exploring, just not as an imminent catalyst.

Near-term gold outlook: bearish bias, approaching support

• Gold is described as sitting below $4,000/oz, crossing key psychological levels and moving toward a “3 handle” after being around a “4 handle.”
• Soloway frames the move as a healthy unwind of momentum after an emotionally driven run.
• He urges investors to separate:
  • Technical/near-term price action (emotion and positioning), from
  • Long-term fundamentals (gold and silver as stores of value).
• He highlights potential support structures near recent trendline behavior and expects further downside is possible, but suggests it’s close enough to start “nibbling” rather than going all-in.

Key levels mentioned

• If gold breaks above ~$4,300, it could suggest the bottom is near (with a possible ~$3,900 area as a target).
• He references a ~$3,500 call as still relevant/being monitored (implying he’s watching for confirmation).

Why gold is falling: “weak hands,” hedging, and macro risk

Soloway discusses how crowded long positioning and speculative “get rich quick” flows often need to wash out via corrections.

Large put positioning

• Large put positioning in gold may reflect:
  • nervousness, and/or
  • hedging by long holders (puts can hedge a physical/long book).
• Either way, he treats it as a signal that markets may not be fully at the bottom yet.

Geopolitical risk easing

• He also suggests geopolitical risk is easing—implying Iran-related war risk is reduced, removing one historical support for gold.

Fed / rates narrative

They challenge the “hawkish Fed” storyline in mainstream media.

Soloway’s view:

• He does not expect rate hikes soon.
• He argues the broader economy shows recession-like sentiment among most people, even if markets haven’t fully priced it.
• He attributes some prior economic resilience to AI-related capex and government spending, implying that a slowdown could still matter.
• He rejects the idea that the Fed will pivot into hawkishness contrary to what he claims was Trump’s stance—and argues the market’s reaction is overdone.

Silver outlook: potentially tougher, with “max pain” around $50

• Soloway’s silver outlook is more negative near-term.
• He expects silver could drop toward $54 first, then likely face tests around $50 (potentially below $50).
• He describes the chart behavior as a “bouncy ball pattern”—bounces getting smaller after a big run until the trend finally breaks down.

Key levels mentioned

• ~$54: near-term support (from prior pivots).
• $50: a major psychological “break point,” described as where speculative players may capitulate.

Fundamental “breadcrumbs” vs emotional price action

Danielle raises concerns about nontransparent/possibly misleading accounting, including claims that:

• countries are repatriating gold,
• central banks are buying more,
• and a World Gold Council critique implies central bank purchases were understated.

Soloway agrees the fundamentals supporting higher prices remain, including:

• central bank accumulation, and
• ongoing fiat/printing concerns.

But he emphasizes that emotion drives short-term price action, so dips can occur even when long-term demand is supportive.

Comparison to speculative tech momentum (SpaceX / Cerebras) and the takeaway

Soloway uses IPO/AI momentum examples (SpaceX, Cerebras) to argue:

• hype can drive sharp rallies,
• and then insider/positioning dynamics can lead to sharp declines once retail FOMO peaks.

Lesson: momentum works both ways—so traders should be ready to buy closer to capitulation levels rather than chase strength.

Bitcoin brief: risk-off, ~$60k pivot, then lower bids

Soloway says Bitcoin is retesting ~$60,000.

He describes a possible double-bottom path:

• If $60k breaks, he expects a move toward $50k, and possibly the mid/low-40s.
• He mentions a “worst case” around ~$35k.

He says he would start nibbling below $50k, spacing buys while maintaining a longer-term view.

Closing message

Soloway’s final takeaway: don’t panic.

• Separate short-term technical weakness from long-term drivers (dollar dynamics, spending/printing, and expectations of a more dovish eventual Fed).
• He argues investors can profit by buying during others’ fear.

Presenters / contributors

• Danielle — host/presenter of “The Dingella Cambone Show” segment
• Gareth Soloway — guest; Chief Market Strategist, Verified Investing
• Jim Rickards — mentioned via a prior interview (not present in this segment)
• Jim Rogers — mentioned (not present in this segment)