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Steve Penny: Silver at Key Inflection Point, What's Next for Price?

"The ultimate catalyst that sends silver to those big targets we're all talking about ... I think it will be the Fed's response to the next big panic," said Steve Penny of SilverChartist.com.

Steve Penny, founder of SilverChartist.com, shares his outlook for silver and gold, saying that while he expects much higher prices in the long term, the near and even medium term could bring more sideways movement for the precious metals.

Penny also shares his current approach to oil, uranium and platinum.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.