Gold & Silver: “Wise to Take Some Profits”

Posted by Peter Grandich - Grandich.com

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May has arrived and while my ultimate target for gold remains $2000+, technical and seasonal factors I’ve spoken about are now upon us.While I think it’s quite possible we push to $1,600 or higher in this move, those of you who fall under my previous middle of the road and speculator/gambler analogy would be wise to take some profits as we move towards and even above $1,600. This is not a sell signal like silver was at $49.25. However, unless as I previously noted your desires are strictly monetary, new gold ownership is not suggested at this time.