This morning, silver and gold are rallying higher again. The move higher in the precious metals come as the U.S. Dollar Index declines and the tension in the Middle East continues to surge. The iShares Silver Trust(NYSE:SLV) is trading higher this morning by 0.64 cents to $34.05 a share. The high on SLV was made at $34.18 two trading days ago and this is still resistance until it is breached. Should the SLV make a new high today traders should watch for short term intra-day resistance around the $34.50 and $35.00 levels.
The SPDR Gold Shares(NYSE:GLD) are trading higher by $1.04 to $139.13 a share. The popular GLD is still trading below it’s all time high made two trading days ago at $140.55 a share. The GLD will have intra-day resistance around the $140.00 level. As long as central banks continue to create money at an alarming rate both gold and silver can be bought on pullbacks.
Nicholas Santiago
InTheMoneyStocks.com
