Saturday, August 4, 2012

The Bottom is Probably in for Silver

"We're still in a long consolidation or basing pattern right now and I feel it will probably continue for a little longer.

 I think that perhaps the bottom is actually in for, not only the mining equities (I called that bottom probably in the middle of May or so and so far I am right, but barely, it looks like we might retest it) but also, it looks like the metals themselves probably bottomed very recently.

 It is too early to count that because time will tell but I think that we will actually work our way further up over the next several months and, by year's end.

I am looking for the silver to probably be in the $35-$40 range and gold will probably be well up $1750 - $1850 is my best take at this point in time."

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