This morning, the picture is worth more than 1000 words. Front month delivery silver is up 67-cents on the day to $16.84.  I have attached a chart of Gold/Silver ratio. I really like looking at relationships in approaching markets.

As you can see clearly below, the COVID-19 ruled world we live in is welcoming silver with open arms. The country is in the process of reopening, thanks to the phenomenal work of first responders. Seeing the Blue Angles fly over Chicago, you can’t help it be proud of all the efforts and the fights that continue to this day. We wish all the Governors, the best of luck.

Back to silver, the technicals look good to the bulls as breakout of the congestion in the weekly chart. Really you would need silver to dip below $14.80 to excite the bears. Any pull back will most likely be seen as a buying rather than a selling opportunity. If you don’t feel like chasing so to speak, give me a call we can look at options strategies.

Gold/Silver Ratio Daily Chart
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Eli Tesfaye

Senior Market Strategist
Eli started his career in the futures and options market while he was in graduate school finishing up his MBA in 2003. Eli specializes in Automatic trading strategies and systematic options trading strategies in futures market. He has been Series 3 license holder since 2005. Eli's is an avid reader, runner, and yoga practitioner.
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