Silver has surged another 2.7% higher this morning to $19.23/oz. This after yesterday's 3% surge when silver flew through resistance at the $18 level to close at $18.26/oz. Silver is 20% higher in dollar terms in June. Silver has surged by similar amounts in euros and by 28% in beleaguered sterling in the month.
Silver in USD - 10 Years
The rally for silver yesterday and today was more impressive than gold’s and saw prices at their highest since mid-September of 2014. Silver has now surged 20% in a month and the next level of resistance is $21.40/oz which silver touched in July 2014.
“Silver looks very bullish now and our clients are allocating to it in a big way,” we told Dow Jones Marketwatch (see below). “Silver is like gold on steroids when it gets going due to the very small size of the physical silver market versus stock, bond and even the gold market.”
