GOLD & SILVER Report 16th July 2011

GOLD Primary and Weekly cycles

Gold has reached its 3rd Quarterly highs @ $1594, with an overall target in 2011 @ $1677+
There is a breakout of the Weekly highs @ $1568, that should push up towards next week's highs...

If that happens I would look for the Price to slip back towards $ 1568 to $1552

Silver Primary and Weekly cycles

Silver should continue up towards next week's highs :- 40.35 to 40.81.

And Even though Silver could follow the same pattern as Gold and continue towards the 3rd Quarterly highs @ $48+

there is also the possibility that price revisits the Weekly level  @ $37.34 next week

The Quarterly 50% level @ $36.75 is your trailing support price for the rest of this Quarter.