Silver/Gold LCNS update

So far so good for the trend in LCNS for August 2012. As I mentioned before here and here, the LCNS is a leading indicator for the silver price. Once you see the LCNS go up, the silver price will go up a few weeks after it.

In an email update from Peter Schiff last week, he mentioned that silver would be the best commodity to buy these days. I agree, there is a very good chance that silver will blast through the resistance of $38/ounce.

Don't wait for a pullback.

Chart 1: LCNS Silver positions

Chart 2: Silver Price

As for gold we see the same happening (September 18th, 2012). LCNS is spiking upwards, so there is a good chance we will see gold higher the next few weeks. Once you see the LCNS go down, you start to see a pullback. I believe though, that the LCNS has already bottomed out and will continue higher.

Chart 3: LCNS Gold positions

Chart 4: Gold Price