Price targets were just released. Look for $2,500 gold, $50 silver, but the big surprise will be mining stocks.
$2,500 Gold, $45-$50 Silver…Big Surprise Miners
May 17 (King World News) – David Hunter: Gold & silver as well as the miners completed their consolidations at the end of March and have begun new uplegs that will take gold to $2500 and silver to $45-$50 in coming months, and these targets represent my minimum expectations. GDX to $60, GDXJ to $100+, SIL to $75 & SILJ to $35+.
This company just made a gold acquisition that is worth 7-8 times what they paid for it and is now set up for monster upside in 2021! To learn more click here or on the image below.
MORE INFLATION: 20 Year High On “Prices Paid”
Peter Boockvar: Price Pressures intensified further with Prices Paid rising another 8.8 pts to 83.5, 23.5 pts above the 6 month average. That is a record high in the 20 yr history of this question.
“Prices Received” Hit All-Time Record
Prices received also rose to a record at 37.1. The only respite here was that the 6 month outlook for prices receded slightly.
As for the overall 6 month manufacturing outlook, it fell 3.2 pts m/o/m to 36.6 and that is about the 6 month average. Capital spending plans were mixed.
Bottom line, we know the demand is there for product but the capacity to deliver is challenged at the same time the cost of doing so increases further.
***To listen to James Turk discuss the key breakout numbers for gold, silver and the mining stocks as well as where the prices of gold and silver are headed long-term CLICK HERE OR ON THE IMAGE BELOW.
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