The resistance has been broken and the next silver price surge is underway. Having broken through the $31.00 per ounce ceiling Silver is set to reach a new trading high. If you have read my previous articles you will be looking at $38.00 - $42.00 per troy ounce by mid-March 2011. There will be a correction and then a cooling off period as we head into summer, which usually slows the silver market down. But this year we will be approaching a continuation of Quantitative Easing, which will weigh heavy on the silver investors mind.
We also will be seeing more news from China as they stop exporting silver and start hoarding the world’s largest stockpile of silver within the last century. If the trend continues China will no doubt be accumulating more than they state on the record. The same goes in India, they will continue with the time honored traditions no matter the price. As food prices rise the farmers will have more money to invest into silver.
Stay tuned for Silver News Today!
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
I find it interesting that on a day like yesterday Silver surges while New York is closed for holiday. Then today the Wall Street Power Boys come in and short it. I question the strength left to consolidate back very far. My gut says no lower than $31.75 if that. This week is going to be a guiding light, if it makes it through the week and is still strong and over $33 I think we will hit $40 soon.
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
" The average man doesn't want to be free. He wants to be safe."
Silver Breaks $31.00 Is $40.00 Next
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Posted - 02/17/2011 : 12:53:18
