Silver

The outlook for Gold & Silver today….

Jack Chan’s weekly update…

In the previous essay, we’ve emphasized that gold is to move higher, and since it has just moved significantly higher, it seems that you may wonder what we think about the situation in its sister-metal – silver. However, before providing you with technical details, we would like to provide you with not-so-bullish views on China, and briefly comment on how it might affect the precious metals market….

…Investors and newsletter writers (we among them) have long speculated that China has a pressing need to start buying gold to reduce its giant hoard of U.S. dollars. We conjectured that China might buy the 191.3 tons that the IMF wants to sell. After all, what could be more logical than to buy the gold off-market?…

In this exclusive Gold Report interview, Gold Newsletter editor and publisher Brien Lundin admits he’s a bit worried about this run’s breakout. He hasn’t lost hope, he says, but “we really need to clear $1,250 over the next six to eight weeks to validate the continuance of this as another one of these major gold rallies” that would carry gold up to the $1,350 to $1,500 range….

Commentary on Copper, Platinum, Gold and Silver…

This week the World Gold Council released their 2009 Gold Demand Trends report and embedded in the statistics were a few tidbits we found interesting…..

However the evolving global currency crisis ultimately manifests itself, either total deflation and a debt-liquidating depression or a hyperinflationary blow-off, David Morgan of The Morgan Report says….

BMO Capital Markets predicts silver will average $20 per ounce this year and next, and is expected to decline to $15/oz in 2012…..

Throughout this bull market, Silver has formed the same corrective pattern over and over again. Currently, Silver is repeating the same pattern but on a much larger scale. Note that Silver’s decline in 2008 and ensuing recovery are a larger fractal…..