Here is
what top Citi analyst Fitzpatrick had to say, along with some powerful charts:
“You can still have corrections and track sideways occasionally, but to
us the trend is solid. The pattern is quite clear, and we still believe this
$1,791 area is really quite critical in terms of the next leg higher for gold,
as well as the $37.48 level on silver.
When we
get a weekly close through both of those critical levels, we anticipate that
will give us an acceleration which will take us up toward the targets on gold to
the $2,055 area (see chart below), and silver back to the old highs near $50.
However, on a longer-term basis we believe we have a setup here which suggests
that gold could continue to go higher for some time to come.
Fitzpatrick continues: “We’ve always been of the view, and are still of the view that
gold is first and foremost a hard currency more so than it is a commodity. So
the building blocks are there for gold to continue to go higher, not just
against the dollar but against all of the other paper currencies as
well..."
at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/9/18_Gold_%26_Silver_Will_Smash_Through_All-Time_Highs.html
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