Well, we said this morning that if Blythe didn't show up in the next 30 minutes and silver retook $41, that silver would break out to new multi-decade highs during today's session. Silver has done just that, clearing $41 in convincing fashion, grinding higher all session, and just breaking $42 to make a new high of $42.03. If silver can hold $42 through the access market close, look for $42.75- $42.90 during Asian trading tonight, and a real chance at $45 next week. Absolutely perfect action in silver today, folks. We couldn't have asked for anything better. Gold has also broken out of its trading range capped near $1460, last touching $1475. It's looking like gold will say goodbye to the $1400's next week (barring a huge move in Friday's session).
Thanks to a reader tip by sierra_hpbt, Ted Butler yesterday made a call that silver is headed 10-20 notches higher imminently.
Yesterday and today's action seem to indicate Mr. Butler is correct as always.
We hope you followed our advice and bought the dip, because the train has left the station and is picking up speed!
