Phil Streible, senior market strategist for RJO Futures, said that while gold is looking strong and could reach $1,300 an ounce, it is silver that is looking ‘fantastic.’ He told Kitco News that he would not be surprised for the metal to hit $20 an ounce. “As long as silver shows resilience to the upside, $20 is a real feasible target,” he said.

“We have a lot of people going into these safe-haven assets,” Streible said. But the yellow metal can also turn direction easily, “you definitely need a plan in place,” Streible said.

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Phillip Streible

Early in his career Phillip began trading his own account as a screen trader focusing on the metals, grains and stock indices. He then became a Series 7 licensed financial consultant with A.G. Edwards. Later, he expanded his trading experience into a Series 3 licensed commodity broker with Investment Analysis Group. Most recently he was a senior market strategist at MF Global before joining RJO Futures in October 2011 as a senior commodities broker. As a senior commodities broker his goal is to show clients how to anticipate, recognize and react to bull and bear market conditions through the use of technical analysis techniques that help them to define risk.