The synchronized breakouts in both gold and silver have raised speculation about a further extension. Especially golds move above $1800 has, from a technical perspective, opened up for a move towards the 2011 record high. However the intense focus on the $1800 level in recent weeks may trigger some sooner-than-expected exhaustion with short term tactical positions already positioned for break. On that basis while we see further upside, today’s price action could end up being critical for the short-term direction of both metals. Full Story
