Silver & Gold Remain in Bull Mode

This morning both silver and gold are trading higher and remains near 52 week highs. The iShares Silver Trust ETF (NYSE:SLV) is trading higher by 0.54 cents to $33.10 a share which is a new 52 week high. The SLV looks to have some minor intra-day resistance around the $33.25 level. Should the U.S. Dollar Index continue to decline the SLV could see higher prices.

The SPDR Gold Shares (NYSE:GLD) are trading higher by 0.59 cents to $137.99 a share. The all time high for the GLD was made on December 7, 2010 at $139.54 a share. Short term traders can look for the GLD to have intra-day resistance around the $138.50 level. As long as the U.S. Dollar Index continues to decline gold and silver could continue to climb higher.

About Nicholas Santiago 576 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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