Market Pulse

Market Pulse - Market Pulse

Update: PSLV, SLV, SGOL, GLD!!!

Back in January, we predicted $50 dollar silver by mid-summer. Well it looks like we are right on track to meeting our projections. Silver has been unrelenting in the past few weeks. I’ve even had trouble timing my own short-term transactions due to its uncharacteristically strong trends—it just hasn’t given any room. And with the current market sentiment, I don’t think silver will be giving much back in terms of corrections.

I’d say it’s already created a nice floor in the mid to upper 30s. I could only wish for another buying opportunity at anything below that.  

I don’t foresee any significant changes until June 25th, which is when QE2 officially ends.

If there is a QE3, I would expect another strong upswing in metals prices from the added inflation.  If there’s not, I still believe silver will serve as a safe haven from overvalued stocks coming off their QE2 binge.

Either way, the general economy has not improved. On deck we’re facing down a bond market implosion, unabated unemployment, and a housing market that will witness another 20-30% markdown.  And now you can tie it all in with lot of public unrest, which the US is also not immune from at this stage in the game.

Precious metals, agriculture and oil, are my favorites going forward.  Silver appears to be where  gold was around 2.5- 3  years ago, when it started breaking out 600-700/oz mark. There's plenty of upswing left before it begins to cool down.


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