Savage is calling for a huge bull market in gold. A move to $5,000 is easy for this many years of consolidation, and $10,000 gold is not out of the question.
The next 2 days will decide whether a short-term top has been formed in gold and silver or will the rise continue. I am against buying gold and silver at current price.
Gold-futures speculators' leverage enables them to bully gold prices. Despite some of the largest shorting on record and resulting investment selling, gold proved resilient.
I expect spot gold to trade over $1956 key resistance. For spot silver, I will look for the ability/inability to break past $25.00 today and next week.
This week, data is coming regarding jobs and employment, plus the Personal Consumption Expenditures (PCE) index. There's so much information in very thin trading markets.
