Silver Short Term Target
Last Thurs. morning with gold in the $2060 area I posted I expected it to reach a new ATH and reach $2100 by the middle of this week.(It did overnite despite correcting since.) Now as a result of my belief that gold will settle in a range just above and below $2100 for the rest of the month, it is time to relate that price range to where silver is likely headed over these next four weeks. Using the $2100 gold price and looking for silver to begin to outperform for the rest of the month, it should work it’s way towards a gold/silver ratio closer to 70 from the current 80 area. That would result in a silver price around $30, plus or minus a dollar, between now and year end.