The TSX in Canada faired very well and rose 11.70% on the month and more importantly has regained the 10,000 level and is now above the major resistance, now support, line. The downtrend line was also taken out in very strong fashion. The much better and more real results of the Canadian banks buoyed markets in the last week of the month.

Canada’s Venture exchange also faired very well rising 11.41%. The junior and exploration heavy index is right at a major battle line but looks ready to pass go. 1,250 will be the next hurdle, but if gold and silver continue to rise as they are it may not take long to move above that level. The extreme value some companies in this index represent is still intriguing today. One speculative company in this index I hold actually rose from a penny to $0.14 before falling back to the $0.08 level making some of my subscribers very happy and a little bit richer. That stock still remains very far from it’s high of $1.

The S&P gold index gained 22.8%. The index is now trading back in it’s range between 350 and 275. However the price looks ready to move out of that range quickly and likely into all time high ground above 385. Let the good times roll!

The HUI launched 33.34% this past month which is stunning. It’s amazing how little new interest there is in gold and silver sites. It makes zero sense that gold silver and their equities are moving at this rate and still people are not interested. It’s very bullish and not just me. Several others have said the same to me personally.

The XAU rose in similar fashion to the HUI rising 33.44% on the month. The HUI is close to moving above major resistance at 400 and the XAU close to moving above the line at 160, but 170 will be a tough level to overcome.

The GDX soared 34.18% on the month and moved solidly above the major resistance band between 35 and 43. All systems are a go as the big hedge funds move into this sector while the public sits back and wants nothing to do with it. That will change and will signify the time to expect a correction. I will keep you apprised.

The smaller junior producing companies I focus on are ripe in this index and I expect it to continue to outperform the metals moves by about 300% both on the up and downside.

It looks like we are in for a major shift where silver will be outperforming gold for a while. The trends are fairly long term and give me a good idea of where to put some money. I’ve pounded the table about silver to outperform gold since this ratio was in the 90‘s, and it is very handily now. I expect this to continue for at least a year.

Saving the best for last gold has now locked in an all time high monthly close. It’s about time, and will attract major attention in June, likely moving gold above $1,000 on it’s way to at least $1,200 before any meaningful correction.

Although the summers have been notoriously slow for the precious metals it looks like this year will be the exception. With the global economic crisis about to pick up steam again and Martin Armstrong's cycles works being very accurate and calling for falling markets and rising gold prices now, I think it will be more work than relaxing this year.

All indicators say go now and we are a mere $20 away from the $1,000 wall. This time, effectively being the third attempt at breaking the wall, should be able to knock through and possibly never return to a three digit print ever again.

Silver rose 27.16% on the month and makes me giddy! Silver rose $2 in the last two weeks with the last $1 effectively completed the last two days of the month and is within reach of $16 and closed only a penny from the months high mark. Silver is so bullish but will likely need a bit of time to move above the $16 strong resistance level. Once that falls it’s $18 then $20 and beyond.

The are major battles going on between monetary authorities and their henchmen, and the large hedge funds right now. This months battle was won by the hedge funds. It’s so much fun these days, and as I said earlier so quiet, that it really makes me think we are just starting a major run up from here.

Recently the venerable Richard Russell mentioned we could be about to begin the mania phase in gold. That’s the third stage where the public comes in with reckless abandon. I must disagree with the legend. I maintain we are just at the start of the second phase where institutional buying begins to take place before they tout it to their clients who move in for the mania. I still don’t see much mutual fund activity or hear all that much about gold yet.

It is just starting and Paulson’s hedge fund recently putting a huge stake into gold and the equities is the beginning. He is a smart cookie and never the last to a party. He is one of many who will be trying soon to enter this small market and will result in prices being driven up much farther than you can imagine today.

It wasn’t that long ago that you’d nearly be roped up and shipped off to the asylum for saying gold would hit $1,000. It’s happening finally, now. Are you ready?