*UPDATE: Silver now has a $35 handle as the metal has just exploded again and is now up over $1 off it’s lows, shooting through $35 to $35.17
Gold and silver both exploded higher on today’s COMEX open after consolidating above $34 and $1750 overnight.
Silver made an .80 vertical move to $34.87, and gold moved over $15 to the upside to $1771, just above Sinclair’s $1764 angel.
Silver has now rallied off the $34 level at least 12 times in the last 24 hours, and with this morning’s move is now well off the support level. Look for silver to challenge the important $35 next, and if it is successful taking out $35 to the upside, we should see silver run to the $37-$37.50 zone before testing it’s next significant resistance.
*Edit: Well, that sure didn’t take long!