Gold & Silver Continue To Climb “The Stairway To Hell”
July 26, 2013
Today top Citi analyst Tom Fitzpatrick sent King World News ten absolutely fantastic charts showing that gold and silver continue to climb what Fitzpatrick calls “The Stairway to Hell.” Fitzpatrick also indicated that both markets are set to have massive price surges from current levels. You are about to read one of the greatest reports on exactly where gold and silver are at this point in their bull markets, and where they are headed.
Here is Fitzpatrick’s outstanding gold and silver commentary along with 10 extraordinary charts: “While calling a bottom in anything is always a danger, it certainly appears to us that Gold is finally finding a platform off of which the next leg higher may have already begun. The long term structural dynamics which suggest a Gold price closer to $3500 by 2016 remain firmly in place and we do not expect them to change anytime soon.
Before feeling that Gold has in fact bottomed, though, we would like to see a (weekly) close through near-term resistance around $1321-$1338, and beyond (that level) medium-term resistance around $1522-$1532. Such closes in our view would confirm the next leg higher in Gold has begun.
Should this in fact be the turn in Gold, it is likely Silver will actually outperform as it has done in the past.