Silver has now joined gold in experiencing a “golden cross” which likely portends much higher prices in the coming months (see chart above).Read the full update here.
A golden cross is when the 50 day moving average rises above the 200 day moving average in an upward movement. The golden cross suggests that silver prices are going higher as golden crosses normally lead to higher prices.
In the past quarter, silver surged 25% in a move that has been largely attributed to the Federal Reserve's announcement of so-called QE3.
“QE to eternity” is obviously an important factor but the supply demand fundamentals of the physical silver market remain very favourable and this should see silver rise above the recent record nominal high of $48.44/oz either in Q4 2012 or in 2013.
Wednesday, 3 October 2012
More Silver Hype - Morgan Stanley Likes Silver in Q4 and 2013
Latest update from GoldCore Blog's Mark OByrne
Posted by Jordan Thomson