Gold Soars To Seven-Week High
Gold and Silver’s Performance for January 2012
Gold’s performance in January of 2012 was it’s best start of the year since the bull market of 2000 however silver surpassed gold’s performance with a 20% increase in value. This is largely due to growing concerns of diminished silver stockpiles which has both silver and gold poised for another explosive rise in value.
In his latest commentary, James Turk said “Regarding gold, I don’t think people realize that gold could explode from current levels. I think the potential for explosion is there and what you are going to see is not only silver on the move, but you will also see gold smash through the $2,000 level.”
He went on to say ““The important point to keep in mind is while silver may look high compared to where it started the month, to me silver looks cheap compared to its upside potential over the next few months. So don’t wait for a big pullback to buy. If today is the day where you purchase silver each month, go ahead and make the buy. Don’t try to time the market.”
This weekly silver chart tracking the value of silver looks promising as many experts have been saying, once silver hurdles above $35, they expect to see $68-$70 in 2-to-3 months.
There is a downtrend line where the $35 resistance level and the current silver price are getting ready to meet. Silver’s first attempt to hurdle $35 could happen within the next 2-to-3 weeks.
» Contact Cornerstone Asset Metals today to learn more about buying gold and silver as an investment.
Past performance is not an indication of future potential values.
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