Ok, let me consult my crystal ball on the trading action over the next month or so....lol. We have OPEX approaching, so that gives a short-term opportunity for the usual shenanigans by the familiar cast of characters, JPMorgan et al.

So, a good chance of one more "engineered" beatdown, the severity of which is unknown. Maybe $60 or so for gold and $1.50 or so for silver? After that, I would suspect that we'll have an upside rally of major significance, with all eyes on Jackson Hole as a potential catalyst.

The thing that will determine how fast and how far an upside rally might extend is the actions of the short sellers of last resort and how much ammunition they have left to continue the good fight.

Eventually, this all falls by the wayside as the "beachball" which are the precious metals, becomes harder and harder to hold under the water against its natural tendancy to want to explode to the surface.

Longer term my views would probably put me in the "tin foil hat" league of opinion. The "rabbit hole" which I've begun to explore, is very deep indeed.

Some links of possible interest:

http://goldswitzerland.com/the-gold-standard-is-inevitable/

http://english.ruvr.ru/2012_08_10/China-wants-to-increase-gold-reserves-six-fold/