Today new gold and silver targets were just issued as the gold market sees a major breakout and silver surges higher out of consolidation.
Breaking Barriers: Gold and Silver set to surge
July 8 (King World News) – Top Citi analyst Tom Fitzpatrick: Gold has broken above the final barrier area at $1,796-1,803 leaving only the all time high at $1,921 as overhead resistance. We would expect an acceleration on tis break could see that level tested within weeks. Ultimately, over time, we suspect that much higher levels can be seen on Gold.
GOLD HEADED WELL ABOVE $1,921 ALL-TIME HIGH:
Gold Market Just Had A Major Breakout
Looks clearly to be breaking out of a consolidation phase similar to that seen into early May before it surged higher again. Good resistance is met at $19.60 but we would expect this break to yield a move to major resistance around $21.14. Ultimately we retain a longer term target of $28 here.
SILVER BREAKS OUT OF CONSOLIDATION:
Silver Headed To $21+…Then $28
The Gold/Silver ratio
Is once again rolling over and we continue to target a move to at least the 93.26-93.47 area (55 week MA and trend line support). However, given we have had a nice correction in terms of depth and time we would not be surprised to see this range broken on an extended move towards major support around 82.25-84.00 (200 week MA and trend line support). Overall renewed Silver outperformance looks likely here.
Silver To Outperform As Gold/Silver Ratio Set To Plunge
Also of importance…
Capitalizing On The Gold & Silver Bull
Eric King: “Ivan, as you know I purchased over 7 figures of your company’s stock because I believe in you and I believe in your team and the amazing projects you have been able to acquire ahead of the major bull run in gold, silver and copper. How well positioned is Auryn to take advantage of this bull market?”
Ivan Bebek: “Eric, we have raised and spent over $100 million in the past 4 years. And for clarity, the money was not spent waiting for the bull market to start, it was spent preparing for this bull market. We have acquired some of the largest scale Gold, Silver, and Copper discovery opportunities in the world. Auryn now has three major tier-one scale projects in its portfolio, and we anticipate aggressively drilling them over the next 12 months. So we have remarkable blue sky for investors.”
Eric King: “Ivan, you’ve been very public about your intention to spinoff Auryn into 3 companies, each representing major opportunities in all key bull market metals — Gold, Silver, and Copper.”
Auryn May Split Into 3 Monster Gold, Silver & Copper Swings
Ivan Bebek: “I have been very public with the idea that we may split our company or spin it into three shares for investors, one for each commodity of focus – a benchmark for this decision timing has been market conditions, specifically metal prices. We also believe we now have the people in place to run the new companies and our objective is to achieve this within the next few months.”
Eric King: “What will drive value in Auryn over the next 6-12 months for shareholders?”
Large Scale High-Quality Targets
Ivan Bebek: “Outside of the split into 3 companies, there will be lots of news in both Canada and Peru. As of June 22nd, we resumed exploration in Peru under new Covid guidelines, and we expect more large scale high-quality targets to be added to the already existing drill plans. And in Canada at our Committee Bay project, after a recent a targeting breakthrough, we will soon see how it applies across the entire 300km long gold belt.
The bottom line, Eric, is this will be an incredible 12 months for Auryn Shareholders as we start to capitalize and unlock value on the major opportunities we have created for our shareholders.” Auryn Resources, symbol AUG in Canada and on the New York Stock Exchange.
Look Who Said Gold To Surge Above $2,000
***Also Released: 9 YEAR HIGH: Look At Who Just Said Gold Is Now Going To Surge Above $2,000 CLICK HERE.
***To listen to one of the most important interview of 2020 click here or on the image below.
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