Based on technical analysis, it can be argued that gold and silver are poised for a significant rally, possibly in late summer. Although probably not thought of as the ideal time to expect a rally, historical results may show otherwise. For example, in 2005 there was a substantial late summer rally, in 2006 a small pre-July rally, in 2007 a huge late summer rally, and in 2008 a small pre-July rally. Does anybody else see the pattern? It would appear that we are due for a nice late summer rally, I guess only time will tell.
Click the chart below for further analysis.