Gold Poised To Super-Surge 150% & Silver A Staggering 300%

Gold Poised To Super-Surge 150% & Silver A Staggering 300%

On the heels of continued fierce action in the gold and silver markets, today top Citi analyst Tom Fitzpatrick spoke with King World News about an expected 150% super-surge in the price of gold, and a staggering 300% in silver.  He also included 4 fantastic gold and silver charts which illustrate how this enormous advance will begin.

Below is Fitzpatrick’s tremendous interview along with 4 key charts:

Eric King:  “Tom, we are continuing to see these advances in gold and silver that you predicted would happen.  Let’s start with gold.”

Fitzpatrick:  “Yes.  Overall we are still of the view that what we saw was a very deep correction in secular bear market, but a correction nonetheless.  The platform which has now been established with the recent low, below $1,200, is going to be a platform for a substantial move higher.

“The price of gold is now advancing above the area that really marked the breakdown point in gold.  This area is where gold has the rising trendline and the 55-month moving average.  These zones come in around the $1,390 to $1,405 levels.

So a monthly close back above that zone would suggest that gold is now undoing the longer-term break that was the catalyst for the move down below $1,200.  This will open up the gold price for a test of the really big break point, which was the area around $1,520 to $1,525.

This $1,520 to $1,525 zone was pierced on the downside as the equity markets were hitting new all-time highs.  Regaining a strong foothold above that area would be the catalyst in terms of price that would signify gold has definitely reentered the bullish phase of its secular bull market (see chart below).
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