This Week in Gold and Silver

The last three major highs for Gold have been $1804.40 in November 2011, $1792.70 in February 2012, and this month $1790.00. If we broke through, we should see a challenge of the all-time high of $1923.70 set in September 2011, and I suggest a breach of $2000 an ounce is in the offing quite soon.

Silver looks much the same as Gold. A high of $35.70 in October 2011, $37.58 in February 2012, and this month at $35.26. A breach of the $37.58 high should take us to the $44 area and an attack on all-time high of $49.82.

The Gold/Silver ratio right now is 51.35, meaning one ounce of Gold buys 51.35 ounces of Silver. If Gold trades at $2100 and the ratio stays at 51.35, then Silver would trade at $40.89. I’ve already suggested we are going back to about $50. $50 suggests a ratio closer to 40. Look for the ratio to close toward 15:1 over time.

In my latest book, “Gold Rush!” you can read why I like Gold and why I think a rush for Gold is coming. For a short time, you can download “Gold Rush!” FREE from Amazon!

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