Gold & Silver Rally Resumes, Silver Climbs Swiss Staircase to $17!

Whelp, that didn’t take long…

 

Silver Eagle SD Bullion

 

Yesterday morning, we published Stewart Thomson’s analysis of the gold and silver market post last Friday’s horrific jobs report, a report that Thomson called “Rocket Fuel For Gold Prices“, and Thomson warned that gold and silver’s consolidation period could very well be measured in hours.   

It certainly didn’t take long, as this morning gold and silver are once again roaring higher and slicing through critical resistance. 

Perhaps most impressive is the price action in silver, which traded in a classic Swiss Staircase fashion throughout the entirety of Wednesday’s London session- a trading pattern we haven’t witnessed in the silver market since early 2011:

silver swiss

silver
Gold has punched through significant resistance at $1250, and now looks likely to run to $1280 before the banksters attempt to defend $1280-$1300 as their line in the sand against a major move to $1400 and beyond


Expect gold to pause near $1260-$1265 near the initial high, but we highly suspect $1260 won’t be able to contain gold for long…

 

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