Perfect Storm For Gold & Silver – Silver Surges 6% In Week To $40.28 – GFMS Forecast $50/oz This Year
by Tyler Durden
Submitted by Gold Core
Perfect Storm for Gold & Silver – Silver Surges 6% in Week to $40.28 – GFMS Forecast $50/oz This Year
Gold and silver reached new record all time and 31 year highs again yesterday and this morning – both nominal highs. Silver has surged to a new 31 year nominal high of $40.28/oz and may now target next resistance at $50/oz – the 1980 nominal high.
Gold is now targeting $1,500/oz after just reaching new nominal highs at $1473/oz. Gold is higher in all currencies this week but especially the beleaguered yen which has fallen 4% against gold in the week so far.