Gold just hit its first target of $1505. Silver is very strong at $44.50 and change. Gold may go a bit higher and then reverse, or it might just hang at the highs.

If it doesn’t collapse below $1500 for the next few days, the chances of moving to $1576 this month become good. Silver could then be targeting $47.50. If they overshoot, $1600 and $50.

Anyway, we are at interim resistance. Both are acting incredibly strong so it’s hard to say if there will be a significant retracement, meaning even to the typical 38.2% level. But then, there is a bird in the hand.