Please take the time to watch this explanation of the technical charts by Gary Savage of Smart Money Tracker.com He clearly explains from a technical perspective where he feels we are in the cycle for gold and silver and the gold mining stocks in the U.S. In his estimation we are looking at around the end of March beginning of April to retest the highs from last year! that’s quite a bit of upside to look forward to in the next 8 weeks or so. As S.A investors other factors like the Rand and our political issues must be taken into consideration but as it stands now, it looks good for the precious metals to continue on their upward trajectory and for the mining stocks to resume their upward trend too.
The next leg up in a new daily cycle for the precious metals has begun. Silver is breaking away above its 200 dma with little resistance now until it reaches $19. Gold is approaching its 200 dma and once it breaks through that resistance is expected to top somewhere above $1300+.