It offers options contracts if you want to go that route, too.
Metals Set For A Summer Run, Too
Just because I haven’t mentioned the metals over the last few issues doesn’t mean I haven’t been keeping a close eye on them. And what they’ve been telling me is that my predictions and technical levels have worked out quite well, as gold and silver put on their rally caps back towards the end of 2008 and haven’t given a significant glance back since.
Back on May 4, I wrote that: “Gold has held its support around the $860 an ounce range, while silver has held each pullback at $12 an ounce. From here, we believe both gold and silver will once again test those $1,000 and $15 levels, respectively.”
Sure enough, gold - now at $980 an ounce - is still gunning for the $1,000 level that it tagged back in February.
As for silver, it’s already surpassed my prediction at $15.50, although it could face a selloff before continuing on another run. We could see a price as high as the $20 level it reached last summer.
You can trade both gold and silver with the NYMEX futures options, as well with the gold & silver ETFs - the SPDR Gold Shares (NYSE: GLD) and iShares Silver Trust (NYSE: SLV).
