Despite a massive attempt by the shorts in the futures markets to quash this recent rally, the reality is that nothing has changed and all of the indicators of this rally are still the same.
Which means as they break out of ranges or channels in the weeks ahead, much higher prices are on the horizon, especially if the President decides to monkey around with attempting a remake of the Federal Reserve in his image.
First up, gold which has been in a solid channel with occasional rallies towards $3500 and breaks back down towards the $3250ish level.
Considering this range is tightening into a potential bull pennant heading into August, I damned sure wouldn’t want to be short of this precious metal, especially with central banks starting to reveal more demand suddenly this summer.
Meanwhile for those of us who are silver bulls, the last week did not go as planned as the US dollar suddenly rose from the grave but now with President Instability openly demanding to collapse its value via irresponsible rate policy, that appears to have put a floor under the price around $37.50 to $38 per ounce.
My only advice?
If you don’t have physical precious metals or select miners now, you’re probably too late. The market will go as nuts as the administration if history is of any guide, especially during the next 120 days.
