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Gold $3,322.29 $(1.61) -0.05% Silver $37.09 $0.08 0.22% Platinum $1,360.06 $(0.52) -0.04% Palladium $1,138.54 $(5.33) -0.47%

Silver surges above $30, reaching levels not seen in more than 10 years

Silver surges above $30, reaching levels not seen in more than 10 years

Silver surged above $30 on Friday to trade at the highest level in more than 10 years.
 
Silver Chart
 
We've talked a lot about the bullish supply and demand fundamentals, which suggested that the white metal was underpriced.
 
Today's price action constitutes a significant technical breakout that lends considerable credence to the bullish outlook.
 
Technicals now suggest potential is to Fibonacci/chart resistance at $35.35/39.
 
When silver leads the charge, all the precious metals tend to benefit.
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