How much further for gold and silver?

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How Much More To Go?

At two major mining conferences this past week, I was constantly asked how much further gold and silver had to go.
 

I tried to answer that in the best way I could in my presentation in front of a packed crowd — and I have more valuable insights in this week’s upcoming Gold Newsletter.

It’s fair to say that not everyone appreciated my answer.

Before I winged my way up to Vancouver last week, I knew that I was going to get the same question from hundreds of investors: “How much further are gold and silver going?”

And so I was. And understandably so — the rocket-shots in both metals only accelerated as I prepared to take the stage for my presentation at the Metals Investor Forum. Gold surged to well over $5,000 and silver, well, it burned the skies as it blasted through $100.

As you can see from the screenshot above, I made the very question of where they were going next the primary theme of my speech. And I answered it in the only way I could:
 

“No one knows!”
 

Moreover, I advised the audience, if someone tells you they do know, you can safely ignore anything else they tell you.
 

With that said, I offered up some possibilities, some probabilities...along with zero predictions.

The Best Analog:
The 1970s

I shared with the hundreds of investors at the Metals Investor Forum, and the uncounted number of others that I talked to over my five days across two conferences, that the best analog I could come up with was the 1970s.

Consider what gold did during that decade: After Nixon severed the dollar’s last tie to gold, it surged higher as the dollar was devalued and Americans gained the right to own the metal (thanks Jim!).

Everyone expected the world to go to hell in a handbasket, and gold surged over five times over to a blow-off top in 1974.

Then...none of the worst fears were realized and gold lost 50% through the fall of 1976.

At that point, the initial worries over rampant inflation began to be realized, and gold took off again, culminating in another blow-off top in late 1979 and early 1980.

Stressing again that no one knows what’s going to happen this time, it seems to me that we may hit my original targets of $6,000 to $8,000 gold much earlier than I expected...then experience an extended correction like the mid-1970s...before taking off again to much higher levels that would imply a global financial reset.

Now, I don’t expect a 50% correction in gold — not with price-insensitive central banks eagerly exchanging their dollars for the yellow metal. So let’s say we suffer through a more-typical technical correction on the order of 25%.

Then we’ll have to put up with a gold price around $4,000.

Oh, the agony!

Hopefully, you get my point: This is an historic bull market in the metals, and one implying that a fundamental restructuring of the global financial system is at hand.

The corollary to the questions above is, what are we supposed to do now?

My advice has been to take some profits from our biggest gainers, redeploy a portion of those returns into earlier-stage junior mining plays...and take the remaining portion of the gains out of the market entirely.

I expand on all of this in the February edition of Gold Newsletter that I’m writing right now.

I include a very important chart illustrating the 1970s analog I talk about above...give more insights into where the metals could go next...and unveil three exciting new opportunities that the market has yet to appreciate.

They include:

•     A new gold and silver company, guided by one of the successful mine builders in Mexico, that’s taking an historic, high-grade mine and rushing toward production. At these gold and silver prices, they’re going to make money hand over fist!

•     An “exploration” company in an established gold trend that already has over two million ounces...a net present value at current gold prices of over $1.2 billion...and three drills turning. The best news: It’s only been trading for a few weeks, so relatively few investors are even aware of it!

•     Another exploration play, this one right on trend with some of the largest gold mines in South America. Their property is massive, has the very same rocks as the other world-class mines, and their drills are hitting gold in hole after hold. The last gold play in this trend surged 27 times over from the same early stage, which gives you an idea of why I’m recommending this company right now.

Don’t Waste This Historic Market

Quite frankly, this bull market in metals and mining is like nothing we’ve ever seen before.
 

There are lots of reasons, but most important is the fact that in past bull markets, the central banks were selling gold. Now they’re buying gold.
 

This means strong support on the downside, a steadier uptrend and ongoing pressure on supplies — all adding up to the kinds of gains we’ve been seeing.

I have to tell you, Gold Newsletter has guided investors through every major bull market in metals — and our experience, network and track record have never mattered more than they do right now.

If you’re not already subscribed to Gold Newsletter, you risk wasting this historic opportunity.
 

I urge you: Subscribe now to make sure you don't miss this crucially important February issue of Gold Newsletter.

All the best,

Brien Lundin
Publisher, Gold Newsletter
CEO, the New Orleans Investment Conference

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P.S. Remember — you can get up to date on lots of top junior mining stories on our Gold Newsletter YouTube Channel. Check out some of the recent interviews at the links below...