Gold Getting Ready To Break Out

GOLD

Gold’s base building and consolidation continues to move higher, as it gets ready for the break above $1,780 on the way to $1,800 shortly. Last month Gold established an excellent base above $1,700 then moved to above $1,725. Earlier this month Gold built a base above $1,750 and now over $1,760. As a long-term analyst of previous Gold/Silver rallies, I am very encouraged that my target of $2,000 by year end is on track. At 11am PT today, Gold is trading at $1,763 per ounce, down $5 on good volume.

SILVER

Silver rallied from this morning’s low of $17.25 to move back over the key $17.50 level. Today, Silver is showing more price support then Gold, trading over $17.70 per ounce. At 11am PT today, Silver is trading at $17.76, up $0.10 on excellent volume.