…this being our January 2021 edition, we offer our forecasts for gold and silver during the coming year. Hint: I hope I am not being overly-optimistic.

For “hard money” advocates, this has been a remarkable month. Gold has risen by more than $100, silver has begun to surge, and the headlines are full of news items quite capable of raising public concerns to crisis levels.

The great question now is whether the correction that followed was an end to that bull market—or just a lengthy corrective phase prior to another important bullish move. Let’s turn to technical analysis of the chart for a possible answer.