Silver Back Above $49, Nears New Multi-Decade High

April 28, 2011 By 4 Comments

Those calling for a blow-off top and subsequent devastating correction in silver may want to check today’s silver chart. Silver has now retraced nearly 100% of its sell-off losses.  It has just re-passed $49, and is preparing to take out Sunday night’s multi-decade high of $49.82, and challenge the $50 level. 
Gold is also currently placing brand new All-Time highs, last hitting $1537.20.  Gold looks like it wants to run to $1550-$1560 here before its next set back. 

We look for silver to place a new ALL-TIME (nominal) high by week close. If silver can clear $50 and hold that for tomorrow’s close, silver will target $65-$70 before Blythe can get her make-up on. We hope you followed our advice and bought the dip!


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Comments

  1. Heron says:
    April 28, 2011 at 10:40 AM

    Then, again, I wonder if Blythe could smack the markets down just by taking her make-up off?

  2. Big Machine says:
    April 28, 2011 at 11:18 AM

    $49.49. Blythe better try something soon. lol

  3. Anonymous says:
    April 28, 2011 at 11:19 AM

    Who is Blythe?

  4. lonerangersilver says:
    April 28, 2011 at 7:23 PM

    Blythe Masters was born in Oxford, England. She is an economist and Head of Global Commodities at J.P. Morgan Chase. You should hang a cross from your neck, carry a wooden stake, some holly water and a bible on your hand when around her.

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