Monday, January 09, 2006

Gold and Silver

I had thought that the December 12 tops in February gold at 544 and in March silver at 934 ended the the move up for at least a few months. As you can see from the hourly charts above gold has already traded above its 544 high and I think silver will soon do so.

My upside target for gold is now 560 and for silver 960. Once these levels are reached I expect a substantial break as is illustrated in the charts above.

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