Friday, April 8, 2011

Silver continuing to hold above $40 at noon EDT.

Silver punched through $40 overnight in Asian trade and held its gains going into London and into New York. That is quite remarkable given the fact that runs toward round numbers can engender profit taking as price targets are reached. If it holds its gains above $40, it could begin accelerating towards $50 relatively quickly. I will want to see how it fares as it nears the close of pit session trading.

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2 comments:

  1. JackApril 8, 2011 at 9:17 AM

    It's like being in the middle of a no-hitter. You aren't supposed to say the magic words "no hitter" because that jinxes the pitcher. So for silver I'll avoid saying "commercial sign...."...

    you know.

    ReplyDelete
  2. The DocApril 8, 2011 at 5:32 PM

    Very impressive close for silver. We might see $50 sooner than anyone thinks possible.
    And the real price of silver is already $54/oz!

    http://silverdoctors.blogspot.com/2011/04/free-market-silver-price-now-nearly-54.html

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