Precious metals continue to show strength with both gold and silver at or near multi-year highs.
And the sector may get another bullish boost from Silver.
Silver has been in consolidation for over a month, before recently breaking above its downtrend line. It then consolidated for a few days before breaking out once more.
This is a great sign for Gold as well; gold bulls love it when Silver leads.
Our short-term price target for Silver is around $34. It appears that Precious Metals is asserting its leadership in 2024.
Silver Futures Price Chart
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The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
