Loading ...New Gold & Silver Targets
Here is my entire post from 9/21 where I presented my short to intermediate targets for gold and silver. “As I have indicated in posts on 9/9 and 9/19 the bottom is definitely in for silver and most likely in for gold. My short to intermediate targets are for gold: $1745, $1800 and eventually the 200 day around $1830. Silver should see $21 fairly soon followed by it’s 200 day near $22.” I will be issuing new HIGHER targets later this afternoon after an expected announcement from the FED. How fast they are reached will depend on how gold and silver close this afternoon, what the FED does, and how the markets react to what they do and say. Stay tuned, we are just getting started!
Looking at the charts of the stock market averages I see clear targets for this short squeeze rally in stocks. What isn’t yet known is if it will be fast, ending possibly by Thursday, or if it plays out over a longer period of time? We will see what the FED announces regarding some sort of “twist” or suspension of QT?
A few questions about your thesis.
1) If stocks haven’t seen their lows, will silver likewise break it’s lows in sympathy? or do you see that stocks HAVE seen the lows so pretty much blue sky for silver (perhaps gold)?
2) In your opinion a) have stocks had a ‘capitulation’ moment and b) has silver/gold also had a capitulation moment?
My take is that the bottom for PM’s is not in simply because the markets have not actually capitulated yet, but I’d like to get your take. Thanks CM.
While what happens to stocks and the dollar affects gold and silver in the short term there is no direct, long term corelation. As I have stated in my posts over the last few weeks, silver bottomed a month ago. It rallied, retested and has now broken out. Gold and silver are going higher in both the short term and the longer term(to new ATH’s)regardless of what stocks do.