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Gold and silver movin on up

Commentaries & Views

Like the old TV show, The Jefferson's, gold and silver are 'Movin' on up," but instead of the Eastside, they are moving North. The trend is solidly up and there is no reason to believe that will change anytime soon. From the Transitory Inflation -- the new name from the FED -- to horrible jobs numbers, all signs point up.

From our perspective, we have no interest in the news. We recognize some of the reasoning behind the recent rally and the news. However, as usual, the information has been priced in ahead of the announcements. The trend has taken over from there. Look at other commodities, especially copper, which is exploding.

The bottom line is simple: gold is headed towards our next target of $1,880 and silver at $28.40. The rally appears to be picking up steam with every move higher and we believe they will reach our targets and exceed them. This has a chance to be a powerful move going much further than we think. However, follow the price action and watch one level at a time

Every Monday Andy Hecht and I do a strategy call starting at 5:00 EDT, you can join us for free using the registration link below.

2021-05-10 Monday Night Strategy Call

We had a Farmer Hedging Q+A on Saturday. Here is the recording

2021-05-08 Farmer Q+A

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.