from Birch Gold Group:

Gold and silver’s recent climb has our customers talking, and for good reason.

The chart below shows gold’s ascent over the past year, with a pronounced jump in the past two weeks, as the yellow metal soared to a new all-time high:

CBS News couldn’t figure out what caused the price to soar, calling it a “mystery.” That led Jim Bianco of Bianco Research to sarcastically quip, “Guess trillions in money printing is also a mystery.”

Bianco was most certainly talking about the Federal Reserve’s recent “moon shot” of essentially printing trillions in cash in a desperate response to the financial impact of COVID-19.

And Bianco isn’t alone in throwing his weight behind gold. Writes Forbes:

Speaking to Bloomberg TV on Friday, emerging markets investor Mark Mobius urged viewers to buy gold now and “continue to buy” as interest rates remain near zero and as COVID-19 continues to impact mine output.

The recent jump in price is unusual for this time of year:

“Ordinarily this is the quiet time for gold—summer doldrums,” said Ross Norman, chief executive officer of precious metals news and information provider Metals Daily. “Well, not this year.”

On an article at ZeroHedge, the possibility for $5,000 or even $10,000 gold was entertained.

But even if gold isn’t going to hit $5,000 or $10,000 anytime soon, the idea that it may go much higher in the near-term isn’t far-fetched.

Georgette Boele at ABN AMRO “sees five major factors providing long-term support for gold prices: a weaker U.S. dollar, low to negative bond yields, growing government debt, aggressive monetary policy easing and strong technical momentum.”

All good reasons that bolster the case for another near-term climb. “Goldman Sachs says gold will surge another 20% and hit $2,300 in the next year, driven by rock-bottom interest rates,” according to Business Insider.

And gold isn’t the only precious metal with a strong outlook. The prospects for silver appear to be just as promising…

Goldman Sachs Says $30 Silver is in the Cards

The last time silver was over $30 was back in 2013. The way things are going, we may soon see that price again.

Going back to the Forbes piece, Frank Holmes believes the recent silver run up is only getting started:

Silver has historically had a higher beta than gold. When gold has gone up 10 percent, silver has gone up 15 percent. The reverse has also been true: When gold has fallen 10 percent, silver has fallen 15 percent.

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