Once again, gold and silver mirrored each other’s price moves all through Thursday trading around the world. The high in the Far East in both metals was about 3:30 p.m. in Hong Kong…and from there, the trend was down. This trend picked up some steam about 10:00 a.m. in London and continued to accelerate to the down-side right through the Comex open. But around 8:45 a.m. in New York, gold and silver found a savior, as both metals turned on a dime…with gold picking up a hair over $20…and silver up 66 cents…from bottom-to-top during Comex trading.

Silver is a great investment right now and prices could easily shoot above $20 per ounce by the end of this year.  I predict that with the right call options on silver you can make over 100% before the end of the year.

Both gold and silver rose and fell together in fits and starts all through Far East and early London trading on Wednesday. Both metals went vertical the moment [or very shortly after] the London silver fix at 12:00 noon in London…7:00 a.m. in New York. Someone obviously didn’t like that, and both metals were under serious selling pressure immediately.

The gold price stayed within five bucks of $950 in Far East trading on Tuesday morning. The bottom for gold was in at 1:00 p.m. in Hong Kong. From there, it rallied a bit into the London open and then fell five dollars into the London silver fix. From there, a smallish rally began which ran into the usual New York not-for-profit sellers around 9:15 a.m. on the Comex.

Both gold and silver hit their high prices of the day during early trading in the Far East on Monday morning. Then, starting about 1:00 p.m. in Hong Kong, both gold and silver began to head south…and by the time I hit the sack shortly after the London open, gold was down about $7 and silver was down about 40 cents. I had visions of a total blow-out when I woke up yesterday morning, but was pleasantly surprised to find the worst was already past. The lows for both gold and silver were at the London p.m. gold fix…10:00 a.m. in New York. After that, gold managed to gain about $5…and silver was steady into the end of Globex trading…

As I mentioned in my closing comments yesterday, gold hadn’t done much in Far East trading and early London trading…but I also mentioned that this would change as the day wore on in London…and certainly once the Comex opened. Well…I was right about that…unfortunately.

Gold had tacked on about $8 by late Thursday afternoon in Hong Kong…which was shortly after the Thursday morning open in London. But four hours later [8:00 a.m. in New York], even this gain was gone. But from that point, however, both gold and silver began spirited rallies. These rallies lasted throughout the entire Comex floor session, but both traded sideways after that…which they’re still doing eight hours after the Globex close in New York. Here’s the current Kitco silver chart. The red line shows yesterday’s trading. You can see that all of the gains were during Comex hours in New York.

Mark my words:  Silver is going over $20 per ounce!  Currently, silver is trading around $15 per ounce, up 40% already in 2009.

The US$ had a huge gain yesterday…and gold got whacked for almost $30 between its high of $990 at 4:00 p.m. in Hong Kong trading yesterday afternoon…and eleven hours later at 3:00 p.m. at its low tick in electronic trading in New York. At three different times yesterday, gold had some help falling that much…the most obvious coming shortly after London closed for the day. I was surprised that the bullion banks didn’t pull their bids on the Comex open…something they normally love to do after the set-up they gave themselves during London trading.

As is almost always the case, gold got sold off a bit when the New York bullion banks were the only show in town early on Tuesday morning in the Far East. From there, gold added about five bucks, with the Far East high coming around lunch time in Hong Kong yesterday. From that point it got sold down into the London open…but from there…a rally began which lasted until London closed for the day at 11:00 a.m. New York time. Gold then got sold off five bucks to around $980…and that’s where the price stayed until the end of electronic trading at 5:15 Eastern time. The usual N.Y. commentator said that “Estimated volume was only 87,230 lots, with barely…