Gold and Silver Market Report, Midday Tuesday 4/19/11

I actually thought that the market might pause a little today as investors felt out the $1500 oz level on gold. I was also watching for silver to either advance toward 45 or attempt a temporary retreat and retest $40 oz.

It looks as if gold and silver are both pushing forward full steam a mid-day. I think that once we see a gold end above $1500 oz, it will take off again. Remember, this is a large psychological barrier.

When gold closes above $1500 oz, I feel very bullish on silver blowing through $45 and then on the way to $50 oz.