Monday, August 8, 2011

Gold Breaks $1750, Silver Capped Near $39


Man, a guy can't even hit the gym for 2 hours at night without gold skyrocketing!
Gold is now within ticks of $1750 (the long awaited $1650 suddenly seems like ancient history), with a last at $1750.10!

Again, while silver has not been rallying today along with gold, today's action proved that silver is rapidly becoming viewed as a CURRENCY.  This is a major paradigm shift.
I repeat again that if this were 2008, silver would be nearing $30 by now. 
The fact that silver is treading water while EVERY OTHER FINANCIAL ASSET OTHER THAN GOLD is being tossed out the window like the kitchen sink is proof enough. 
QE3 is coming.  If not tomorrow, then soon, I will promise you that.

Can you remember that November day back in 2010 when QE2 was announced?

IF The Bernank announces QE3 tomorrow, silver will jump $3-$5, gold will explode past Sinclair's Phase 3 parabolic point of $1784, take out $1800, and likely place its first + $100 day of the bull market.

Keep some cash ready to pick up some silver in the event that the Fed remains silent on QE 3 tomorrow, in which case the sell-off could quickly turn EPIC and temporarily suppress silver as well.
As DOW futures are -250, Hong Kong is -7%, and South Korea is -9.5%, look out below if helicopters dropping cash are NOT spotted tomorrow.

Your move Ben.

( closes in 18 hrs. 47 mins.)
Metals Date
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Gold Charts  GOLD 08/08/2011


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