The most recent PCE inflation report was the highest since February. It’s the Federal Reserve’s favorite inflation index, and the news came on the heels of the recent surge in producer prices. Both gold and silver are soaring to new record and multi-year highs now, write Mary Anne and Pamela Aden, editors of The Aden Forecast.
Gold has now broken out of its sideways trading band from the last several months, breaking above $3,500. The pre-breakout correction was mild, and gold held mostly above its 15-week moving average during it. 
This shows great strength. An “A” rise is now underway, and just by reaching a record high, it shows good strength for that kind of increase. Note the indicator is rising from the “D” lows, and it has room to rise further. We could see $4,000 reached during this leg up.
Gold and silver shares are on a tear, too, soaring to new highs in this growing bull market. In fact, the shares have been leading gold and silver prices.
Gold shares have a vast open potential, and their rise this past month has now given the tech-heavy Nasdaq a run for its money. The NYSE Arca Gold Bugs Index, or HUI, has now met up with the substantial rise in the Nasdaq. This is impressive, and there is little competition for gold and silver shares.
The HUI index is approaching its all-time high of 2011, which was near 600. It'll remain super strong by staying above 435, and especially above 460. Our shares are all at new highs, and we recommend keeping them.
