Another night another day! This afternoon I watched Enter The Dragon with Bruce Lee and later a documentary on his life and family. It's inspirational to read his struggles as an actor and as a martial arts artist. His marriage to a Caucasian woman was also at that point in time a very taboo thing. Today it is less taboo, depending on which part of the world you go to anyway. It's unfortunate he died so young, but his legacy will live on that is certain.
Now on to metals...
It's mid August and gold and silver. Gold is currently $1742.60 and silver is currently $39.27. Silver will hit $50 by years' end and Gold, $2000. I believe we are right now in the beginning stages of mania in Gold and Silver. Oil has collapsed back to $83.50. My guess is by the end of the year oil will be back and above $100. I've placed bets on oil and on silver wheaton, a silver streaming company. I expect silver wheaton to reach new highs by the end of this year. It is currently $37 and I expect it to hit $60 by January 2012 possibly higher. Now's the time to get into the mining shares, I fully expect those to take off by the end of this year. The Fed will unleash more QE, whatever they call it, it's going to happen.
I have placed large bets on oil and silver, so we'll see how that goes. Lady luck has been on my side this year. I've not placed any bets on gold but that is because I believe silver has greater potential along with oil. This summer has been stunning for gold and silver, the strongest in almost 30 years. That speaks volumes about the economic uncertainly that is currently present in the world today. People are rushing to real money.
What I expect by June next year
- Silver at $60
- Oil at $150
- Gold at $2500
Most likely, these values are underestimated because the mania will slowly start to realise itself over the next months.
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