Gold and silver both extended today’s massive gains on Friday’s Asian open, with silver tapping $35, and gold to $1775.
We expect silver to break through $35 on it’s 3rd attempt, after which it should quickly run to $35.75-$36. Look for a potential pull-back to occur near $37-$37.50, potentially taking silver back to $35 before the major up-move begins.
There is simply no major downside risk for gold and silver at the present with QE∞ now official Fed policy.
Let that sink in for a moment.
As we mentioned this afternoon, new ALL-TIME NOMINAL HIGH’S ARE LOCKED AND LOADED!! It is simply a matter of time.
Those who have been waiting on the sidelines for one final pull-back into the $1600′s for gold and $20′s for silver will either enter this market immediately, or else chase the runaway train as it leaves the station.
Silver’s vertical pop on Friday’s Asian open:
Gold also climbing through $1775. A weekly close above $1800 is now a definite possibility, which would set gold up for a run at it’s all time nominal high of $1915 before October!