Gold & Silver Pop on COMEX Open, Silver Regains $30 Handle

Gold and silver have popped higher in thin trading on Wednesday’s COMEX open, with silver trading back above $30 to $30.30, and gold moving off $1650 to $1669. 

 

2013 Silver Eagles As Low as $2.59 Over Spot at SDBullion!

 

Silver has cleared $30 to the upside after consolidating near $29.90 overnight in Asian and London trading:

 

Gold also made an impressive move to the upside, but will need to clear $1670 if we are to see any real traction on the move.

 

The risk remains that the cartel will attempt to paint negative annual returns on both the yearly silver and gold charts, so caution is warranted.   We expect strong snap-back rallies in both metals in early January, as the December action has nearly exactly mimicked December 2011 action.

Comments

  1. and all of that pop is now erased. the bastards cant even give it a break over christmas..

  2. Yeah, the PPT boyz were a little late getting to the office this morning, but when they got their computers booted up they squashed that little rally.

  3. Looks like algo trading, prices kind of going sideways more than anything.

  4. Chopper Ben promises to print $80 billion a month until things get better or until unemployment falls below 6.5% or in other words ad infinitum.  Buying Silver right now should be as basic as lifting a spoon to your face.  Go get some.  

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