April is now in the books for COMEX gold and silver. Not only did gold cross the $1550 level today, but it powered past the level up to and through the COMEX close.
We had expected gold to correct ~$25 back to $1535 once it reached $1560, but today’s price action in gold has us rethinking this.
Gold looks like it may want to over-extend its run towards $1575-$1580 before consolidating for its assault on $1600.
Look for gold strength next week to pull silver up to and through $50 like a magnet. Once silver clears $50.35 and sustains the move through two consecutive closes, we look for silver to shoot towards $60.
That blasted Citibank 21 months 0% APR card better arrive soon.
UPDATE* Gold’s melt-up continues in after-hours Globex trading, last touching $1563.70
UPDATE 2* And $1570.60, before closing access market trading at $1566.70.