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Gold $3,306.17 $(12.7) -0.38% Silver $32.71 $(0.1) -0.3% Platinum $973.30 $(5.7) -0.58% Palladium $947.95 $14.2 1.52%

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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