Loading ...[A few weeks ago, I would have rolled my eyes heavenward and said just another gold-nut menacing us with yet another call for gold to explode—today I find myself agreeing with him]
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This is a new massive gold bull leg that’s an extension of the bull market that began in the 1970s…Most price chart analysts are looking at this and are thinking ‘I have to be in this or I’m’ going to miss it.’ We’ve rapidly taken out the highs of the past five years. Money managers who have not been in gold are being jolted into the sense that they have to be part of this. Especially with the gold miners, which are rising at double the rate of the metals. When these folks start to move assets into this sector it can have a dramatic effect. They’ll move explosively higher.
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Most people will be shocked where the next rest stop for the gold miners. GDX was $20 recently and could be above $30 in short order. It’s a new dynamic and all the price-related .
By the end of the year we should see $1,700 in gold. That’s not the end, it’s just where it will be at year-end. We’re in a major situation.
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Silver, meanwhile, is about to slingshot to catch up with gold. It will do twice as well as gold, too quickly to allow time for committee meetings to decide whether or not to buy. You won’t get a measured move – expect a move from the mid $15s to over $20 in a matter of weeks. But that will be just the beginning.
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