Silver (SLV) Sets Up for Breakout, but Gold (GLD) Traders Seem A Bit Gun-Shy
Get Alerts SLV Hot Sheet
Join SI Premium – FREE
iShares Silver Trust ETF (NYSE: SLV) is higher by 1.85 percent intraday on Monday. The spot price of silver reached its highest level since mid-June, breaking above $28.50 per ounce. Traders say the metal faces technical resistance at $29 and $30.
SPDR Gold Shares ETF (NYSE: GLD) is up only 0.25 percent and this could be a drag on silver since the two precious metals are highly correlated. Gold trades at $1620, just under resistance at $1630. A break here could send both gold and silver flying.
ETFS Physical Platinum Shares (NYSE: PPLT) is higher for the 3rd day in a row on reports of continued tensions at a mine in South Africa. Last week police there shot and killed dozens of striking miners.
SPDR Gold Shares ETF (NYSE: GLD) is up only 0.25 percent and this could be a drag on silver since the two precious metals are highly correlated. Gold trades at $1620, just under resistance at $1630. A break here could send both gold and silver flying.
ETFS Physical Platinum Shares (NYSE: PPLT) is higher for the 3rd day in a row on reports of continued tensions at a mine in South Africa. Last week police there shot and killed dozens of striking miners.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gold prices steady below $2,400; Rate fears, dollar pressure persist
- Natural Gas Inventory 50 bcf vs 52 bcf Expected
- Oil settles down 3% as demand worries outweigh Middle East supply risks
Create E-mail Alert Related Categories
Commodities, ETFsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!