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Is silver about to break out? These are the levels to watch
The fundamental backdrop is shifting in silver's favor. The war has reached a stalemate, and most of the escalation risk is behind us. China's economy accelerated to 5% growth in Q1, its strongest pace in over a year, and copper's breakout above $6.25 is the industrial-demand confirmation that's been missing. Silver's industrial component, roughly half its end use, typically gets pulled along when copper leads. Meanwhile, the dollar is rolling over into what looks like another leg lower, and it has historically been the single most reliable tailwind for the entire metals complex. Silver has spent the past three ... (full story)