With the price of silver surging near $19 and the gold market holding recent gains at $1,320, the following was sent to King World News from analyst David P. out of Europe. The work below is not David’s and we are not sure if it comes from a colleague or not but it is worth featuring because of the astonishing price target that it sets for the price of silver.
Long-term Play Due To Inflation And Large Margin For Naked Shorts
“I’ve been over this dozens of times in the past. This is the trade to end all trades. It makes me laugh when people can see a stock gain 10,000% but (they believe that) a commodity (which doubles as REAL money) cannot gain 3,000% in value? It certainly can and has made similar moves in the past. $200 is a no-brainer and the bubble highs will be much higher than that (see remarkable chart below).
Chart of Possible 30-Year Cup And Handle Breakout Targeting $690!
A Jaw-Dropping $690 Target For The Price Of Silver
King World News note: The text on the chart above says “30-year cup and handle breakout?” The reason give is: “Fundamental revaluation, big gap in sell limits — the $50 billion physical market will match the $5 trillion paper market, (and) leveraged naked shorts will be wiped out.” If you look at the target zone in the upper right hand corner of the chart it targets a jaw-dropping $690 for the price of silver (see stunning chart once again above).
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