Silver Breakout Likely to Propel Silver Price Higher
Intro
Silver Price breakout through resistance Silver breakout likely to propel silver price higher according to Heraeus.
Silver Breakout likely to Propel Silver Price Higher
Turning to silver, Heraeus said that while silver ETF holdings have been expanding recently, they still have further room to grow.
“Despite silver prices hanging on to a level just below a 10-year high, silver ETF holdings remain similar to 2023 levels,” they noted. “This is despite net inflows of 30 moz so far this year, and an upswing from cumulative net sales of 19 moz as recently as June. Total holdings currently sit at 730 moz. On balance, this seems to be a relatively muted response to the silver price reaching a decade-high this month. At their peak, silver ETF holdings reached more than 1 billion ounces, while the silver price was 15% lower than today.”
Heraeus believes silver is benefiting from significant tailwinds which could help to sustain the current breakout above $33 per ounce. “Lower real interest rates support capital allocation into bullion, and China’s efforts to stimulate economic growth also lend support to silver from the industrial sector,” they wrote. “Based on historical levels, investors have the capacity to increase holdings from the current base, but it will likely take a clear breakout to new highs to prompt this.”
The analysts pointed out that silver reached another cycle high last week. “By Friday, after four days of incremental gains, the silver price closed 2.55% higher at $32.48/oz,” they wrote. “Once silver does close above resistance at $32.94/oz, a further rapid movement higher may be possible.”
Silver managed to break definitively above $33 per ounce on Friday afternoon, and the gray metal has since breached the $34 level on Monday morning. At the time of writing, spot silver last traded at $34.073 per ounce and is up 1.07% on the daily chart.
Silver Breakout likely to Propel Silver Price Higher
Sell Pure Silver Coins
Start your own Home Business selling the
finest Pure Silver Coins from around the World
A full set of Marketing Tools and a full Capture
Page with an Email Sales Follow Up all automated
to complete your Sales on Auto Pilot
Busines Cards and Brochures to make Sales in your
Local Community are also available
Everything you need to succeed selling Precious Metals
in one easy and simple Business Model and you can get all
this for only 10 Dollars a Month
Get in on the coming Silver Boom Click the Link Below
to Get some Free Silver just for taking the Tour.
Buy Pure Silver Coins Starting at
only 9 Dollars
Online Orders only!!!!!
All Silver is Pure Silver with Fast, Safe
Secure and insured guaranteed delivery
right to your door.
Visit the Link Below to see what’s on Sale Today
at the SHOP…
Copy Ctrl C to copy the Link below
Paste Ctrl V on your keyboard to paste
the link below into your browser.
https://Shop.QuickSilver.me/375703
Your Primary Quick Silver Site:
https://quickslvsystem.com/qs-gain-wealth-no-ph.php?user=375703
There is a massive Silver Rally coming and it’s
your time to cash in on this once in a life time opportunity.
For a short time Quicksilver is offering a free silver gift
just for taking the survey.
Find out how you can build and protect your wealth in these
uncertain times by investing, selling and becoming your own
Dealer with Quicksilver
Take a Tour and get some Free Silver
all the best
Brent
Silver Business
https://platform.quicksilver.me/Quicksilver/enroll/signup_form.asp?sponsorid=375703
Opinion
There has never been a better time in history to get into Silver. Whether collecting, stacking or selling and buying Silver Coins. QuickSilver Home Business will do it all.
