Silver consolidated in the upper range of yesterday’s strong move. Rumors from EU of Euro 1 trillion ESFS fund in the works warms the heart of inflation bulls. And silver responds. Must stay above support line for uptrend to remain valid.
While speculators in the West were selling paper silver, savers in the East were buying physical silver.
Today Gold had the best 1 day performance amongst all the commodities and equity indices. Staying long and strong with target of the $2000/oz magic number around the corner.
Silver lagged today after the run up yesterday. Expecting the two metals to play tag with each other on their way to new highs.