David Morgan and I have been having too many precious metals panic reports, so we figured it was a good time to give a rally report. Today gold is up over $66 per ounce and silver’s rallied over $0.80 per ounce. These are dramatic, sudden, and possibly significant moves. Gold’s up over 4 percent in one day, an extremely rare occurrence, with silver following suit; silver’s up at just around a three percent increase. There have been signs of a precious metals rally on the horizon. The volume at the downside was slowing dramatically. The volume today was incredibly robust. All things considered, this might just be the breakout we were waiting for, and the persistent and continual bad news about the Euro and the daily disastrous job numbers could be the catalyst for an upward resumption. A couple of days ago, Sell in May and Go Away, looked like very sound advice. But today, June 1, 2012, on National Donut Day, the skids could be greased for overweighted returns in the precious metals markets.
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