When gold broke above its 1980 all-time high it quickly accelerated towards new, higher highs, whereas silver is still below its all-time nominal high. When silver breaks above its April 2011 high, is it reasonable to expect it to soar towards $75?
Yes, $75 (or $77) is a very good target and one that could be reached in 2013 (in all likelihood - 80% or so - it will be reached no later than in 2014 in our view). There is one more important stop between this level and the 1980 high: $63. We are providing the very long-term silver chart this week to better illustrate.
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