Gold Market Set For Stunning $550 Surge & 46% Spike In Silver

"On the heels of another surge in gold and silver, today top Citi analyst Tom Fitzpatrick sent King World News two incredibly important charts which show that gold may now be set up for a stunning $550 surge and silver for a massive 46% spike.  Below are the key gold and silver charts that all KWN readers around the world need to see, along with Fitzpatrick’s comments.

Fitzpatrick comments and charts below: 

Gold:  

“Gold has traded above very good resistance in the $1,350 to $1,362 range:

$1,350: 55-week moving average

$1,353: Top of channel from the 2012 peak

$1,362: Peak of bounce seen in October 2013....

Continue reading the Tom Fitzpatrick piece below

A weekly close above this range would open up the way for a test of the pivotal double bottom neckline at $1,434.

A weekly close above this ($1,434) level would complete the double bottom and suggest extended gains towards $1,680 - $1,685.  Such a move would take us back above both the 200-week moving average at $1,493 and the horizontal resistance (previously support) from 2011/2012 at $1,523 - $1,527.

Such a move, if seen, would strongly suggest that the corrective low is in and that a re-test of the all-time highs at $1,921 and beyond is highly likely..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/3/14_Gold_Market_Set_For_Stunning_$550_Surge_%26_46_Spike_In_Silver.html