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Silver Drops as Rates Rise
Silver has gotten hammered during the trading session as talks between the Americans and the Iranians appear to be on hold. So, interest rates have spiked. With that being the case, it makes a certain amount of sense that traders will be very concerned about the potential risk appetite going forward. If that ends up being the case, then silver gets hammered. It probably drops down to the $70 level relatively soon. The upside is the $82 level where we see a lot of resistance. And if we can break above there, then we can go to the $90 level.Quite frankly, we need the situation between the Americans and the Iranians to ... (full story)