Gold, Silver & Crude Oil Set For Remarkable Advances
August 24, 2012
Today Tom Fitzpatrick told King World News that silver will quickly advance 23%, or $7 higher than current levels. Fitzpatrick also expects massive moves in gold and crude oil that will stun market participants.
Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “We remain bullish on the gold price. Most importantly, this is a bullish gold view, not a gold/dollar view. So while the gold/dollar chart now looks strong, and momentum is picking up, we believe gold will outperform all paper currencies in the developed world. This is because there is so much money printing taking place, particularly in the West.
But we believe over the next 12 to 18 months that we are going to see the the euro significantly lower vs the dollar. Ultimately we see the euro below parity with the dollar, and maybe as low as 90 cents. So over that 12 to 18 month period, we not only see gold performing well vs the dollar, but we see gold significantly outperforming the euro.
In fact, gold may perform 20% to 25% better against the euro vs the dollar. It is also worth noting that gold is only 3% off the all-time highs in euro terms. Silver has also held nicely above the $27 level, and very recently we have seen silver begin to outperform gold. The silver chart looks very bullish. We believe that silver will continue to outperform gold in this breakout move.”