by Andrew Hoffman
Yesterday, I wrote of gold’s “battle for $1,250/oz” – in watching the Cartel desperately defend its latest naked-shorting-defended “line in the sand,” as intently as it did at the key round numbers of $1,100, $1,150, and $1,200. Sure enough, “Economic Mother Nature’s” forces overcame them all – just as they will at $1,250, $1,300, and points beyond; and in silver’s case, $16/oz for starters, until it inevitably makes its “ultimate quadruple top breakout” above $50. Hopefully sooner rather than later – but holding physical metal, that can’t be pried but from my cold, dead hands – I can afford to wait.
As for $1,250, this morning’s horrific Belgian terrorist event – which unquestionably, will be linked to the “migrancy crisis” already tearing Europe apart – has again catalyzed its breaching to the upside; whilst silver continues to fight to break above $16, on this “technically historic” day when silver’s 50 DMA finally crossed above its 200 DMA, validating gold’s “golden cross” of a month ago.