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Silver is back - and indeed impressive! The resistance at $ 20.50 was cleared with ease out of the way. The move sideways is history. The precious metal sets off to catch up to its big brother GOLD.
Gold expert Jim Sinclair has recently voiced in Texas on the prospects of the two precious metals: "... quite good chances for a sustainable rally. Silver is the gold on steroids ," he says. In his view, silver can still reach USD 50.00 this year - if not USD 100.00.
Massive silver purchases by major banks. As the SEC filings for the positions of the fourth quarter demonstrate some major banks are massively on the buyer side in silver. The positions at the largest silver ETF SLV were Goldman Sachs by 101% to USD 25 million, the Royal Bank of Canada 32% to 42 million, Credit Suisse by 14% to 103 million and Morgan Stanley to 17% increased to USD 176 million.
Gold expert Jim Sinclair has recently voiced in Texas on the prospects of the two precious metals: "... quite good chances for a sustainable rally. Silver is the gold on steroids ," he says. In his view, silver can still reach USD 50.00 this year - if not USD 100.00.
Massive silver purchases by major banks. As the SEC filings for the positions of the fourth quarter demonstrate some major banks are massively on the buyer side in silver. The positions at the largest silver ETF SLV were Goldman Sachs by 101% to USD 25 million, the Royal Bank of Canada 32% to 42 million, Credit Suisse by 14% to 103 million and Morgan Stanley to 17% increased to USD 176 million.
