This is one of those breakouts where it will be sustained, at least for a while. Don't fall in love with the trade. Chances are better today for a silver breakout with a pretty powerful move over the coming 3-5 weeks.
Silver was hammered this past week, down 6.5% on the week including a drop of 6.1% Thursday and Friday this past week. Silver is now not far from making fresh 52-week lows.
Silver prices are struggling. Strange for a sector in supply deficits. Like gold, silver spiked sharply downward on August 9, hitting a low of $22.28 that was perilously close to the November 2020 low of $21.96 and the September 2020 low of $21.81.
