Major short covering is on the cards on the silver and gold markets. Another thing to note is that the trading desks are now all open as the workers stream back from their summer break.
We will see $50/oz silver shortly and expect gold to have go at $2000/oz. Many of the big guns predicted this and had started buying gold and silver stocks...the HUI is now sitting at 605.
Expect the HUI to head to 800 shortly.
