Next Move May Be A Stunning $3,620 For Gold & $125 Silver!
- Next Move May Be A Stunning $3,620 For Gold & $125 Silver!
The following charts were put together exclusively for King World News by Kevin Wides, out of Switzerland. Once again, this is a way for all King World News readers globally to take an important step back and look at the big picture in both gold and silver as we head into 2013. These charts show the next pulse higher for gold and silver may stretch to $3,620 and $125, respectively.
The chart below(top of post) shows consolidations in gold since 2005 and the subsequent price moves higher. You can see from the angle of the curve that the next trajectory move for gold should be above $3,000. If you look at the move in gold following the first consolidation of 71 weeks, once gold broke out it advanced roughly 50%.
After the second consolidation on the chart, which lasted 77 weeks, once gold broke out the advance was 90%. If gold advances 50% after taking out of the recent all-time high, the projected target for the advance would be $2,880. If gold sees a 90% move after the breakout, that would target $3,620.
The silver chart below shows the important moves and consolidations since the advance began in 2003. Note that the last consolidation lasted 91 weeks. After silver was then able to break out above the $21 resistance area, it subsequently advanced roughly 150%. If silver were to replicate a move of that magnitude, after breaking the recent high of nearly $50, it would put the next target for silver at a staggering $125.
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