Its now almost mid July and the metals have been largely flat so far this month. There is increasingly a lot of feisty pro-metal posters out there on the endless message boards. Many are calling for a Silver hyper ramp to $50..and higher, as early as this the end of this year.
There are also some really strong deflationists out there, touting a break under the big $20..with targets in the 17.50 to $15 range. For the moment, I remain part of the latter group.
I remain seeking a significant snap down in the metals later this July and into early August.
Primary target for Gold and Silver remain $1300 and $22 respectively. Those levels might not be fully achieved until late Oct/November time, much is dependent on whether the Bernanke appears to do QE3 in early August - now increasingly less likely, or if he waits until the US election is completed.
In the near term, look for GLD to break under 148, which should occur as part of a very sharp drop.