Next step silver - over $20.00

It does seem like $20 is the pyschological barrier for silver. The $1000 barrier was for gold last year, then it became $1100 and now we're looking at $1200.

Even at today's prices, I'm still not totally convinced that $1200 is the new floor for gold.

If silver can just get passed $20, it would really signal to me and probably to many here that we are doing the right thing in holding onto silver...

 

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silver high - $19.30 per ounce.

 

pom-pom! rah! rah!

 

CURRENTLY:

GOLD: $1,259.40 -- High so far $1,263.50
Silver: $19.23 -- High so far $19.30

 

CURRENTLY:in other markets for Monday 6/21/2010

GOLD: $1,259.50
Silver: $19.35

 

$20 silver is starting to become the psych barrier of the 4 minute mile....

 

CURRENTLY: In EU/UK markets...

GOLD: $1,258.90
Silver: $19.39

Platinum: $1605
Palladium: $503

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US market opening in an hour forty-five minutes...

 

CURRENTLY: In EU/UK markets...

GOLD: $1,261.10
Silver: $19.44

Platinum: $1605
Palladium: $504

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US market opening in an hour twelve minutes...

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I checked Kitco.com to see the high for spot silver today and I saw that the high for today was $19.59. It did not shock me, but silver backed down again from that high and it is now currently at $19.27 as of 10:08 AM U.S. Eastern Standard time. It looks like the $19.50-$20 range will be very tough for silver to break. It might take several attempts at the $19.50-$20 range before silver can break $20 in a convincing fashion.

Just my 0.02.

 

I think also that the China Yuan revaluation announcement and reaction in the equities market is offsetting attention on PMs today.

CURRENTLY:

GOLD: $1,255.70
Silver: $19.26

Platinum: $1611
Palladium: $505​

 

CURRENTLY:

GOLD: $1,236.90
Silver: $18.85

Platinum: $1597
Palladium: $497​

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CURRENTLY:

GOLD: $1,233.90
Silver: $18.77

Platinum: $1593
Palladium: $497​

 

Not very surprising with silver. Once silver entered the $19.50-$20 territory, it backed off. I know that there was news that did not help silver (china yuan????) but still it backed off when it hit that $19.50-$20 resistence area. That is a troubling sign for silver IMO. If I am wrong on this, then please feel free to correct me on this.

With that said, once silver recovers and makes another attempt at $19.50-$20.00, then I think that it will break that resistence level and break $20 in a convincing fashion. The only problem is that I do not know when this will happen and another problem is I do not know how far that silver will fall before it claws its way back to that resistence level. I think that this is also the weak period for gold and silver as well and that will probably play a part in when silver will make another attempt at breaking through the $19.50-$20.00 range and finishing above $20.00.

Just my 0.02.

 

CURRENTLY:In EU/UK markets...

GOLD: $1,235.90
Silver: $18.75

Platinum: $1589
Palladium: $487

US Market opening in about an hour twenty minutes...
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CURRENTLY: After the US Market opening...

GOLD: $1,237.60
Silver: $18.83

Platinum: $1588
Palladium: $488


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CURRENTLY:

GOLD: $1,240.40 -- High so far today $1,243.70
Silver: $18.91 High so far today $19.01

Platinum: $1593
Palladium: $491

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CURRENTLY:In EU/UK markets...

GOLD: $1,245.70
Silver: $18.93

Platinum: $1587
Palladium: $491

US Market opening in an hour twenty minutes...​

 

CURRENTLY: in US Market after opening...

GOLD: $1,243.70
Silver: $18.92

Platinum: $1585
Palladium: $491

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CURRENTLY:

GOLD: $1,240.60
Silver: $18.77

Platinum: $1575
Palladium: $489
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CURRENTLY:

GOLD: $1,236.30
Silver: $18.67

Platinum: $1583
Palladium: $487​