Real Excitement of Gold and Silver Is Yet to Come

Dow Theory Letters
"The market's immediate trend is unclear. Stocks are in a trading range until proved otherwise. Trend in precious metals is clear enough, and it's due north. The real excitement is yet to come in gold and silver. The moves are still "baby steps." Many gold people are on the sidelines now, waiting, waiting, waiting -- for the "big correction." Large short interest for both metals on the part of the commercials. But China, Russia, India, Brazil are a lot bigger than the commercials. It's a wide, wide world now, and the US no longer controls the price of gold and silver.

I bought more SLV today at the opening. One ounce of gold buys 49 ounces of silver. Silver is too cheap." (2/28/08)

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