Reasons to stay bullish on silver and gold

[Weatherman]

Just as the hills are alive with the sound of music, GIM is alive with noise from bears on precious metals prices. I still march to the beat of a different chart. For more than a year, silver and gold have repeatedly set higher highs and higher lows, and their prices have consistently moved higher against clear uptrend lines. The current charts are shown below. Even with the sharp price drops since Wednesday, silver and gold continue to be higher than their previous lows, and they stay above the year old uptrend lines. That trend is my friend, and I am not ready to bet against it yet. I do not know what will happen in the weeks to come, but I continue to see a bright prospect for silver and gold prices ahead. My bet is that neither silver nor gold will drop a lot lower into a mini bear market until they set new weekly closing prices that are lower than the earlier lows, and until they drop solidly below the uptrend lines. DYODD, of course, but try to tune out the noise from the shrill shouters while you keep the markets in perspective.