Gold and silver movin on up
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
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.
We had a Farmer Hedging Q+A on Saturday. Here is the recording