One Way Or Another, Silver Looks Set to Become EXPLOSIVE

Silver looks set to become explosive one way or another very soon, as COMEX open interest has surged to nearly 220,000, only 5,000 contracts away from the all-time record of 224,540:

 

Gold and silver prices continue to consolidate recent gains, after gold was pushed back under the critical 200 day moving average early in the week. 

The metals sold off this morning ahead of the release of today’s FOMC minutes, with gold trading as low as $1245 and silver as low as $18.18.  Both metals quickly recovered all losses once the FOMC minutes were released, as a 150 point plunge in the dollar/ yen pair sent gold prices quickly up $10 to $1257 and silver up .15 to $18.35. 

Silver in particular looks extremely strong, and ready to break out to the upside.

Silver looks set to become explosive one way or another very soon, as COMEX open interest has surged to nearly 220,000, only 5,000 contracts away from the all-time record of 224,540.

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