$2,530 & $30.25
Those prices shown above are the two price points we want to see, preferably today or by tomorrow, to trigger the next leg higher for gold and silver. In my Tuesday post I was looking for the metals to bottom either Tuesday or Wednesday. It now looks like yesterday was the bottom.
Tomorrow ends the week and month. Without a further sharp drop in these two remaining days, (unlikely) both metals will print positive monthly candles on their charts. If we exceed the targets listed above, that will be confirmation that an upside surge has begun.
GDX is back above critical support, and along with a broad range of stuff (general equities), a final but relatively brief leg higher into a major top appears ongoing.
And SILJ … dipped back briefly under 12 yesterday, low 11.86, and closed at 11.98.
Still making a good case to but at limit.