There's not much to report on the PM front. Still zooming away and making the top pickers look foolish. My guesstimate for this move in silver will be $50. Yes $50. Doesn't seem too far away now that we are trading at $36. $50 is a nice big round number that will continue to attract buyers. With enough bullishness, we might even overshoot to $60.
Lots of different sources reporting of tightness on the physical front. Personally, I don't know the veracity of that as I am not a bullion dealer. But looking at the charts intraday, every dip is aggressively being bought in silver. Pretty bullish to me. Times like these, waiting for a modest pullback will keep you waiting on the sidelines.
It almost feels like there will be a strong liftoff in prices soon that will make the recent advance look miniscule.
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