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$50 silver price, $2,300 gold are next, but not before this happens first - Patrick Karim

David Lin

Kitco News

(Kitco News) - Gold and silver are about to break out in an "explosive rally" said Patrick Karim, technical analyst and co-founder of Northstar & Badcharts.

According to Karim, silver and gold both need to hit certain price levels first before another bull rally is confirmed, and once they do, new all-time highs can be breached.

"For silver, until it closes above $28 [an ounce], you've got to stay on the sidelines. If it closes above $28, then it's $48 within six months, and probably faster," Karim told David Lin, anchor for Kitco News.

Gold is on its way to $2,300 an ounce but needs to sustain momentum above $1,800 an ounce first.

For Karim's views on the stock market and his long-term analysis of silver and gold, watch the video above. Follow David Lin on Twitter: @davidlin_TV.

By David Lin

For Kitco News

Contact dlin@kitco.com
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.