Loading ...… with only a 1600 contract increase in open interest … suggestive the bankers are not stepping in front of the rally.
Metals Daily Exchange Volume & Open Interest – CME Group
This week could still see some giveback however depending on broad liquidity conditions.
That said, the Fibonacci signature on the Gold / Silver Ratio is suggestive silver could move to $50 rapidly under the right conditions.
What’s more, the head and shoulders pattern in the trade measures to 66, a 20 point move from here, which could propel silver well above $50 even if gold remains rangebound.
Matched with breakouts in several silver stock indexes this past week, one can lean on the bullish side until the Gold / Silver Ratio is vexing the 70’s if the bankers continue to allow silver to run.
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