Like the old TV show, The Jefferson’s, Gold and Silver are movin’ on up, but instead of the East side they are moving North. The trend is solidly up and there is no reason to believe that will change anytime soon. From the Transitory Inflation the new name from the FED to horrible jobs numbers all signs point up.
From our point of view, we have no interest in the news although we recognize some of the reasoning of the recent rally. However, as usual the news has been priced in ahead of the announcements and the trend has taken over from there. Look at other commodities especially Copper which is exploding.
The bottom line is simple. Gold is headed towards our next target of 1880 and Silver 2840. The rally appears to be picking up steam with every move higher and we believe they will reach our targets and exceed them. This has a chance to be a powerful move going much further than we think. However, follow the price action and watch one level at a time.