The last reading was that if gold went past 1,300, then it quickly head to 1,400. In fact, there was a raid that took it back to 1,210. Then came the black swan of Brexit that propelled gold past 1,300.
Gold, in fact slowed its ascent, giving way to silver as the leader of the precious metal bull market. As I write this, silver is closing in on $20/oz. My graph predicts a near term price top around $21-22, before it comes back 1/3 of the current rise. Will silver come back to 18 then? We will see.
Remember, it is hard to predict things, especially the future(YB). But, the precious metals are in a bull market and in that environment the surprises happen to the upside.
No comments:
Post a Comment