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Adens Stay Bullish On Metals

 October 19, 2009 09:26 AM
 


"Gold and silver recently moved well into record high territory, and it looks like they are poised to head even higher," says Mary Anne and Pamela Aden in The Aden Forecast

"Most impressive, gold's leading indicator still has room to rise further before it reaches the high area.

"This tells us that gold's current C rise is very strong and it's now likely headed to our next target level near $1200. Meanwhile, December gold will remain super strong above $1020.

"Silver is hitting new bull market highs. It too is approaching our next target level near the $19 -$20.80, which are the 2008 highs.

[Related -What's the Game Changer for Gold?]

"If silver can break above these levels in the weeks ahead, the rise could take off and this is indeed a good possibility.

"Gold shares are similar... new bull market highs and room to rise further. They continue benefitting from both rising gold and a rising stock market.

"We recommend that you keep all of your metals related positions; buy new ones only in gold, silver and the strongest shares. "We continue to recommend exchange-traded funds such as theslv (NYSE: SLV) and the SPDR Gold Trust (NYSE: GLD). 

"Among our individual mining stock recommendation, we continue to like slw (NYSE: SLW) as well as ego (NYSE: EGO)."

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