What lies ahead for gold and silver? After gold pierces strong resistance at $1,750, the next stop according to technical analysis is $1,807 followed by $1,850 and then the all-time high reached last spring at $1,923. When $1,923 is left behind, gold should move into the $2,250 to $2,400 range (by the end of the year, or soon thereafter) and then it will have to deal with a correction that should send it back near $1,900 and will scare many people to the sidelines.
Silver is in a tight trading range bracketed by a tight trading range of $30.48 and $34.48. Once this range is overcome, the next stop will quickly be $36 to $38 or higher. It’s been a while since we’ve seen $38 silver. I remember it well as I sold some of my silver at $38 early last summer to fund the condo purchase in Miami.
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