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Silver eyes $50? TD Securities predicts major breakout after $31 support holds
The silver market is holding initial support over $31 an ounce, and according to one major bank, the precious metal has room to move higher as momentum picks up. In a note published Tuesday, commodity analysts at TD Securities reiterated their bullish outlook for silver as physical demand continues to outstrip supply. In his latest note, Daniel Ghali, senior commodity strategist at the Canadian Bank, said he is keeping an eye on the white metal’s all-time highs. “The last time silver prices broke through $30/oz, it traded to $50/oz in less than ten weeks,” Ghali wrote. Ghali said that renewed investor demand, ... (full story)