The long anticipated Gold & silver short squeeze has begun as gold has exploded after retesting $1300 overnight, and is now up nearly another $20 today to $1321.
Silver has been even more impressive, up nearly $1 on the day to a high of $21.38.
Should silver be able to clear $21.50, an astonishing short squeeze would be likely- potentially propelling the metal to $22.50-$23 before pausing.
As both metals appearing to be launching another vertical move to the upside, Friday is shaping up to be an explosive trading day to end gold & silver’s massive week!
Gold demonstrated an absolutely classic bullish move through $1300: after testing the level twice Thursday afternoon, gold shot through $1300, retested the previous resistance level, and promptly moved strongly upwards as $1350 appears to be pulling gold like a magnet:
Once gold cleared $1300, silver absolutely exploded to the upside, with a 5% move in under 24 hours:
With 2 months of trading and nearly $150 to the upside in gold, it is looking more and more like The Doc’s December 21st call that gold & silver would place a final bottom within the next 10 days was correct, and that the next stage of the bull market has begun.