Gold On A Bullish Breakout

GOLD

Gold reached the highest price it’s been since 2013 this morning, hitting $1,623 per ounce. Gold is definitely on a bullish breakout, it may need a little consolidation above the $1,600 level, similar to what happened after moving above the $1,550 level. But, I continue to believe we will see $1,750 by year-end. At 11am PT today, Gold is trading at $1,619 per ounce, up $10 on active volume.

SILVER

Silver reach a high of $18.42 today, before see short-term profit taking. After this recent rally, Silver could use a little consolidation over the $18.20 or at least the $18 level. At 11am PT today, Silver is up $0.04 per ounce, trading at $18.36 on good volume.