I have been writing that precious metals will have a long April. Well, it has started that way. First, I will give new end of the month targets: Gold at $1735 and silver at $35. Those are big moves percentage wise, but the volatility has been and will be big both ways.
The volatility makes the upside more bullish, because it shows the desperation of the "M"oney "M"asters and also their desperation shows the important role PMs play in the system, but the move will not happen all at once. It will be a volatile month with big upside and downside moves. We have seen the moves start. The reason there will be a cap on price appreciation is because Europe is under pressure. Monetary policy does not have the affect it once did, and the Trinity will be suppressed at all costs so the secret is not know to the world until the Fiat Ponzi crumbles. The secret is that precious metal is monie, and nothing else is.
The Fed will let markets pull back to scare people into accepting more debt, if that debt is outright QE, or debt swaps and FX swaps. I think the market will drop to DJ 12650 by late April, and Bernanke will usher the next round in then. By that time, Europe will give up all its recent gains and the world economy will be in jeopardy of falling into depression again, like it had ever been saved.
I think PMs take off this summer due to the continuation of lax monetary policy, but I think this will be a long month. Big moves usually have opposing big moves ahead of them. This happens so the market can get the best price available. When I write the "market" I mean "m"arket "m"akers, because there is no market, and hasn't been one in a long time.