Silver and Gold Predictions Upcoming Week 4/25/11

I put a two week price target at the beginning of last week for Gold to be at 1517oz by the end of this week and my call is looking more accurate.

Silver is heading up to 48oz on the open of the Asian markets at 7:00 p.m. eastern time. This is a bullish sign for me because I believe the emerging markets new emerging middle class is a big driver of this. I am happy to ride the wave of those folks’ gold and silver fever.

The Fed crap this week is going to be a huge test. If gold and silver completely blow off all fed remarks, there is no brakes left on the truck and its speeding up. If they manage to knock it down a bit, look at it as a good buying opportunity.

Silver is my favorite little gamble right now because all the big firms are betting like 45 to 1 against in on futures contracts. If silver blows through 50oz and those guys draw media attention when they are crushed by their bets or if they reverse them, then I think silver could literally explode upwards. Considering the downsides are not that great in my opinion, I am willing to put some chips on the table here.

Like I always say, “Unless you think the whole US government is going to get its act together and cut the debt and solve the mess we are in, bet on Gold.”

Possible double bonus multipliers:

Japan PM is in trouble, watch that one, political chaos in Japan would unsettle the market.

Drone strike on Gaddafi: If he is dead, could send things down a bit because oil would come down and it could drag commodities with it. If they missed as usual, its going up because thats a missed assassination attempt, who are they kidding.

Super crazy but not that crazy market shock of the week and a lifetime:

China starts talking about dumping a lot our bonds. I have seen a little chatter pick up on this in the blogoshpere, and that would be a mind blowing knock to the dollar.