Gold met the intermediate measuring objective of 1375 today. The slope of this rally is a bit strenuous and a consolidation of some sort, even a bit of a retracement, would not be out of order and might even be welcome for traders to catch their breath and square up positions. However, gold may not oblige as this breakout is particularly violent having built such a long and broad handle in its base formation. This bull market has a long way to go.
Silver is taking out $24 oz. in what is an extraordinary rally following JPM's closing of Blythe Master's proprietary trading group.
