This would also be highly bullish for silver, given their strong correlation and the trading algorithms that link their movements.
This past week we took out $34 resistance. We also took out points that suggest we should get new highs above $35.07 seen in October 2024.
Positions as of Tuesday, March 11, 2025
Silver needs to break above $34 to suggest new highs above $35. At the same time, we would not like to see a pullback that takes out $31.
Positions as of Tuesday, March 4, 2025
The CME Group warehouse has reported 403.2 million ounces as of February 27 – a record high amount of silver stored, reports Bloomberg.
Gold appears to be correcting its recent run-up to over $2,900. Gold has failed to take out $3,000, with a high thus far of $2,974.
Positions as of 25 February, 2025
Copper prices have broken out and are rising. This is a sign of inflationary pressures. Copper is also a leading indicator for gold.
Positions as of 18 February, 2025
