P. Radomski
The new year started off with a bang with precious metals out-shining the competition. Is this a harbinger of things to come? We think so and we are not alone. Forecasts for Gold for 2012 include a price per ounce of $2,200 by Morgan Stanley, $2,050 by UBS, and $2,000 by Barclays.
There are some issues hanging over the economy in 2012 that will determine if the upcoming year will also be a disappointment.
To see what is likely to happen in the precious metals market in the nearest future, let's begin the technical part with the analysis of Silver (charts courtesy by http://stockcharts.com.)
Summing up, the situation in silver appears to be very bullish at this time based on the long-term indicators. Overall, the situation appears to be quite bullish since long-term indicators carry more weight than short-term signals.
Source: sunshineprofits
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