Silver’s breaking $35, but traders already have their eye on the all-time high at $50
From kitco.com
After years of disappointment, renewed excitement is building in the silver market as prices rise solidly above $35 an ounce, reaching their highest level in 13 years. Spot silver last traded at $35.76 an ounce and is up 8.7% so far this week—its best performance since early May—after prices bounced off initial support above $28.50 an ounce. Jim Wyckoff, Senior Market Strategist at Kitco.com, said this breakout rally has been brewing for a while and may have more upside. “Since gold scored a new record high of $3,485.60 an ounce, based on nearby Comex futures in April, I have maintained that silver appears to be a ...
(full story)