Gold & Silver Update

In my June 1st, 2019 update, when Gold was $1300/oz and Silver was $14.50/oz, in this column I wrote the following:

From my June 1st update: "Bottom line: Gold and Silver prices have entered the early stages of a major bull market. Before year-end 2019, Gold is projected to advance to $1,500/oz (+15% from current levels) while Silver is projected to advance to near $18.00/oz (+25% from current levels). Of course, if these two forecasts are accurate, then gold and silver mining shares can be expected to double and even triple over the next several quarters! In early 2016, this same kind of percentage rally in Gold and Silver prices triggered gains of more than 500% in many precious metals mining stocks in just seven months (see weekly chart of First Majestic)!!"

Now: with Gold trading at $1550/oz and Silver trading at 18.50/oz, projected upside targets for both gold and silver from June 1st have been met and it's time to exit all precious metals positions, including mining shares (many of which have doubled), in favor of the safety of sideline cash.