Like a battering ram, both silver and gold prices keep smashing into resistance (733 & 1350), making a little headway every day. Why do they seem so strong to me? Because they hit, then back off only a little, a very little, then hit again with more force, and keep on hitting. Yet this can't keep up forever. They will break through or fall back to rest for another try. For now, my money sits on "Break Through".
September 1979 was the first month the silver price broke through $10.00, as I remember. By January 21, the silver price had hit $50.00. When metals move, they move fast. Y'all ought to be buying silver & gold right now.
The US Dollar Index gave up yesterday's gains & fell back about 20 basis points. It's feeling for a bottom. Don't be short dollars right now. To much risk of a sudden rally that will send the shorts fleeing in panic.
Every day pushes us closer to the Cliffs of Decision. STOCKS seem bent on re-touching Dow 14,000. Although the Dow Industrials are reaching for their old high, the Dow Transports are content to remain below their 50 & 200 day moving averages, & look set to fall off the Cliff of Decision. Personally I expect the Dow will touch 14,000, then descend to the nether world, having posted a huge double top, but I will admit that the Dow could press through 14,000, taking with it the savings of the unwary all over the world. Beware stocks! Swap now for silver & gold.
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.