Platinum and Copper Set New All Time Record Highs

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Platinum and Copper Set New All Time Record Highs

Posted on 09/25/2006 16:38:51 | Link | Post Comment

0920 EST Wednesday January 25 2006
Good Morning: Yesterday, our reporting of the continuing firmness in Precious Metals and our bullish outlook appears to be manifesting itself strongly today, in the form of sharply higher prices. As we mentioned the power of these markets rising solidly and methodically on little or no news could potententially be enormously bullish for Gold, Silver Platium and Copper and maybe even Palladium too. It feels a lot like the World is already running out of Gold and Silver as supplies are getting increasingly tight and strong demand continues to grow and this could hold enormous addtional upside if the rumored 10,000 tons of shorts in Gold is really true. The more Gold rises, the more they lose and sooner or later they will have to bite the bullet and buy back their positions or face potential financial ruin. Although such situaitions often take years or even decades to be in the making, as we saw in from 1970 thru 1980, decades of inactivity in metals can be truncated into a 20 fold increase in Gold and 50 fold increase in Silver in less than 10 years and since on that scale we are only in the first innings of the next round of likely exponential price increases in Gold and Silver, some of the numbers we have talked about here may well not be fantasy for much longer, but could be a stunning reality that takes many by surprise. Just recently JPM raised their target price for Gold to $800 for this year and this is definitely adding fuel to the fire and has the feel that the next major target will be $1050 or so, much like Goldman Sachs came out with their Oil price high target of $105, well before Oil made its highs up at over $70.

This morning, helped by an easing in Energy prices and less anxiety over Japan and World Markets in general, stocks are rebounding and acting better overall and have the potential for further follow-through upside today, although other dynamics such as a rebound in Energy were it to occur could hobble further advances and we have yet to see what kind of impact a powerful advance in Precious Metals could have. Still that fact that Brazil's markets are probing new all time record highs and Mexico's IPC is heading back for another look at 19,000 means that 20,000 plus cannot be ruled out. These markets just don't seem to want to quit and Japan too, when it gets over its current indigestion could surprise all by going to new multi-year highs. We have to be very alert to unexpected market surprises for now...

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From the Desk of Savant

A new report is available on CFRN regarding our Gold strategy. The report is in PDF Format. We will also continue to update you via - "Trading Markets" - the one stop shop for savvy investors.

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From the Desk of CT

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