Look Out, They Are Breaking Out!
Posted on August 10th, 2011 by MoverMike
On Monday of this week Gold reached $1780 and banged on that level all day (see chart). On Tuesday it pulled back. Today, we are up and away through $1780. The high so far this morning is $1792! The DJIA Monday fell over 600 points to 10,600, rallied over 400 on Tuesday and now is down over 400 points (see chart). The DJIA so far this morning is banging on the 10,800 level. If it acts like Gold. we will soon be testing 10,600!
BTW, Silver is waking. It just took out its Tuesday high (see chart).
Gold wiil go even higher than this short term. I am surprised that silver isn’t following gold in this rally. But silver wiil shine again one day soon. I forsee $100+ for silver. If the big walstreet banks are forced to close theire short positions, we will probably see a sqeeze in silver and the price will than skyrocket! Think of what the stocks of gold and silver junior miners will do then…
The sky’s the limit, however you won’t like living in the good ole US of A after that.