Goldbugs are talking again about the new gold bull cycle that will take gold to $2000 immediately. Just be cautious, there are not enough fundamental reasons that will cause the gold bear to come out of hibernation yet. The current rise is purely due to the currency volatility or rather 'EURO crash' caused by the SNB's surprise move.
We will see much lower prices for precious metals in the coming months regardless of the short-term developments.
In my opinion only speculative positions are currently justified from short term trading based on the risk/reward perspective. I have helped my subscribers to make very good profits from being long a few times in the recent times and now we are waiting to make another killing.
Summing up, while there are some signs that this rally might be the beginning of another major up-leg in the precious metals market, it’s still more likely than not that it’s just a countertrend rally.