Money prices have great upside potential

Editor's note: to be caught
minutes with our quick summary of the news to read absolutely and expertly
opinions that have displaced precious metals and financial markets. Register here!

(Kitco News) – The sharp rally recorded Monday in the money market has attracted more attention from traders and investors on the metal that many call the little brother of gold. In fact, the demand for safe havens has pushed up the price of silver and gold since the beginning of the summer. The current surge in silver prices, which reached its highest level in two weeks, has significantly improved the short term technical position for this market. The strength of short term cards for silver now stands at $ 19.00 and then up from $ 19.75 this year, based on the December Comex futures.

A review of the long-term monthly tracking chart for money futures near Comex should allow bulls to lick their chops. If the price of silver can exceed the strong technical long-term resistance of the USD 20.75 zone, the bulls would gain a lot more in technical power in the long term, the upside potential may actually give rise to gains. substantial amounts that would not be measured in cents, but in dollars.

On the more than 50-year-old monthly chart, once silver prices have crossed the $ 20.00 level or just above, there is significant upside potential. Even silver prices at $ 25.00 an ounce would be far from the peak of $ 49.82, based close to the futures, set in April 2011. The company's futures price record 39, money nearby was reached in January 1980, at $ 50.36. However, seasoned money market observers continue to debate the record high record price in silver. Indeed, when the peaks were reached, the "supply and demand" spreads were probably very wide in a highly volatile trading environment.