Wednesday, September 7, 2011

Ben Davies: Silver Will Take Out $50 & Push into the Mid $60's in 4th Quarter

Ben Davies is looking for a silver breakout in the 4th quarter that will send silver to $65, a mere $5 from The Doc's $70 target.  After previously stating that gold will hit $2,100 in 2011, Davies has now moved up his timeline for his $2,100 call to the end of September.

Silver, we actually have a sensitivity to silver at the moment, we’re quite partial to it.  We think the price action has been very solid.  Since the $50 level it has been acquiescing sideways, but considering the other industrial elements have done very poorly vs gold, silver has really held in well. 

I really believe that we are nearing the beginning of a third wave higher.  We are creating that type of pattern where we are really going to start accelerating higher over the next quarter.  Silver will take out the $50 highs and will go pushing into the mid 60’s.
Read more: