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Gold $3,814.32 $(18.79) -0.49% Silver $46.23 $(0.71) -1.51% Platinum $1,558.81 $(42.87) -2.68% Palladium $1,240.05 $(26.69) -2.11%

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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