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Will silver price skyrocket to $85 per ounce? Can gold surge to $5200 per ounce? Gold and silver prices at these astronomical levels may seem unrealistic and without fundamentals. But renowned technical analyst on bul..

27 Jul 2011

LONDON (Commodity Online): Will silver price skyrocket to $85 per ounce? Can gold surge to $5200 per ounce? Gold and silver prices at these astronomical levels may seem unrealistic and without fundamentals. But renowned technical analyst on bullion Louise Yamada says the hot precious metals gold and silver could go to these whopping price levels in the years to come.

In an interview to King World News (KWN), Yamada said on silver: “We hit part of our silver targets at $50, (expect) $65, even $80, $85 over time. We had an 88% rally in a very short period of time from January and a one third retracement, 34% down, so that was pretty normal. We saw some support at $33 and would loved to have seen it go sideways a little bit longer to be honest with you.”

On gold, Yamada’s speculation went like this: “Gold continues to be in an uptrend in our work. You had a little bit of a consolidation, seasonality would suggest a rise into the fall. The primary support level remains at $1,475 … Our next target is $2,000, and we did a gold special in our last piece that suggested from a very long-term perspective … we could see $5,200 on gold.”

Yamada is known as one of the world’s finest technical analysts on commodities and equities. She began her career as director and head of technical research at Smith Barney. Yamada now leads her own global research company called Louis Yamada Technical Research Advisors.

Does Yamada expect gold and silver prices to touch $5200 and $85 respectively this year? No, she did not offer a timeframe for her price targets on gold and silver prices, but said her next target for silver is for a double “over time” from the $40 print.

“I think that one of the observations that one has to take into consideration is that with each of the Euro financial crises and our own financial crisis in 2008 to 2009, the dollar has rallied less!” she said.

“In other words you had a rally in 2009 that carried 25%,” Yamada explained. “Then, in early 2010, the rally was only 19%. And the second one in 2010 was only 7%. And this time, you haven’t even seen 7% with the crisis that has evolved. So that suggests to us that it (the dollar) is becoming less and less considered a really safe haven.”

Louise Yamada is Managing Director of Louise Yamada Technical Research Advisors (LYA) founded October 2005. Previously Louise was Managing Director and Head of Technical Research for Smith Barney (Citigroup). Louise has been a perennial leader in the Institutional Investor poll, and was the top-ranked market technician in 2001, 2002, 2003 and 2004 prior to her departure from Citigroup.

At LYA Louise has made major calls on: The onset of the relative strength decline of the Financial sector (with reports starting March 2007); the oncoming decline of the U.S. dollar (with a report, “The U.S. Dollar – Losing Reserve Status?” in 2006); the continued structural bull market for Gold (from 2002); her 2004 Alternate Hypothesis that today's equity indexes could track the 1932-1939-1942 stock market; Bonds, the last 20+-year trend yet to reverse (2006); and many other key calls on the domestic and foreign stock markets, on energy, interest rates and commodities.

At Smith Barney for 25 years, in her years as head of Technical Research, Louise authored a weekly flagship report "Market Interpretations". It was there in 1999-2000 that she identified the developing structural bear market in the equity markets, and the Technology / dot.com collapse; the lift in gold in 2001-02 for a new structural bull market; the small- and mid-cap outperformance leadership in 2002; the emerging structural Energy bull in 2004; and other major 20 plus-year structural reversals then taking place, and not seen since 1980-82.

Additionally, Louise penned several notable reports, including "Bull Market Extension? There is Historic Precedent" (1994) and "New Horizons for the 21st Century" (1996), both the subject of feature interviews in Barron’s on May 8, 1995 and September 9, 1996, as well as the special 1999 TRENDS report "Shifting Sands," projecting major long-term structural trend shifts that are still in progress.

She is also the author of "MARKET MAGIC: Riding the Greatest Bull Market of the Century" published by John Wiley & Sons, released in March 1998 and reviewed as "The thinking bull's bible" and "a monumental book, one that all serious and professional investors should read."

Louise is a Chartered Market Technician and a member of the Market Technicians Association, the American Association of Professional Technical Analysts and the Financial Women’s Association. Louise appeared as a special guest on "Louis Rukeyser's Wall Street" and appears frequently on Bloomberg TV and Radio, CNBC and BNN TV as well as in print and online media including Barron's, the Wall Street Journal, the New York Times and the Financial Times. She is a frequent guest speaker at conferences and organizations, including the 2009 Fall Conference of the National Organization of Investment Professionals and the 2010 FEI NYSE forum. Louise received a B.A. from Vassar College and an M.S. from Bank Street College of Education.


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COMMENTS (4)
Jared Lake
29 Jul 2011
Well now that we know gold is money...how did they test in in the old days. they used pocket scales that unfolded and are of alll shapes and sizes. Now there is a cheap simple balance with no moving parts to test 7 different one once coins to see if they are real. it costs 20 bucks...to be safe and in control. GoldCoinBalance ....see it here
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Mak1118
29 Jul 2011
She is a technical analyst(chartist) and a darn good one. She told her clients to get out near the top in 2008. Think about this if the economy weakens Bernanke is going to start printing money again,the dollar will weaken and gold and silver will skyrocket. Keep your minds open to all possibilities.
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Jahed
28 Jul 2011
Who is this FOOL, to make such unrealistic and foolish comments about the price of Gold, just wait & watch and soon you will see the outcome of the speculation which is going on in the commodity market, remember that the fall is more worst than the climb !!
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Ian R Campbell
27 Jul 2011
In my view anyone, irrespective of prior forecasting accuracy or lack thereof, who forecasts a 'gold price' at any given point in time is indirectly making a precise macro-economic forecast. In these volatile economic times I don't think anyone is able to do such a thing reliably. I do think one can intelligently forecast a gold price 'trend', but not a specific price. As a result I consider 'specific gold price forecasts' to be akin to playing the children's party game 'pin the tail on the donkey', where the forecaster is made dizzy before being shoved blindfolded in the general direction of the wall where the donkey's tail-less picture resides. I will be interested in Ms. Yamada's response to this comment if she elects to make one.
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