Gold And Silver Begin the Move to New All-Time Highs
The comments below are an edited and abridged synopsis of an article by Chris Vermeulen
Chris warned about gold’s move many months ago and recently published a research post suggesting gold had cleared major resistance; that it would start a rally mode to push above $2,000, and possibly above $2,100. Well, gold has started to rally higher and is currently trading near $1,790, about to break $1,800 for the first time in 2020.
Up for discussion: how gold will react in this parabolic rally (investors and traders are fearful of this stock market rally and are actively hedging in gold and silver…Traders understand there is risk to the credit and banking systems and are playing the stock market cautiously while loading up on gold as a means to protect against unknown risks); how big the rally could really be (should the credit markets or banking sector collapse or experience any real extended risks, gold could rally to unbelievable levels, perhaps $22,250 or higher); and what it will look like for silver (silver is an incredible opportunity… it is still trading below $19… If you can appreciate how gold could rally to above $5,000 because of extreme risk factoring, then consider that silver could rally to levels above $250 given the same risk factors… that’s a 1,300% price increase).
In conclusion, Chris writes: “Pay attention. There will be no Mulligans in this round of play. You’ll either be prepared for what is likely to happen or you’ll take far greater risks than you should throughout the next 5+ years.”