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Archive for 14/03/2011
Are we near a top?
14/03/2011 by Philinje.
Silver sank to $34 on Friday then promptly rebounded to $36. Simply amazing. But equities are weak and the mining stocks are not so hot, plus silver is near a turning point in terms of cycles.
There is a target of $38 in silver and $1474 in gold. Maybe we’ll get there soon, maybe even tomorrow, or maybe we won’t get there at all on this rally. Be nimble this week. There are some forecasts of higher than $40 by end of March. Who knows. A monster short squeeze could happen. There are still plenty of March contracts to be delivered. Hard to say.
But if equities finally turn south, things could get pretty ugly all around. Be careful.
Posted in Gold | Print | No Comments »