Well... What a lack luster day today was. Despite making a strong come back in the late afternoon to be around 7c above open the market was reluctant to buy like they were expecting some kind of bad news, or for silver to take a huge drop.
There seemed to be significant efforts to push the price down, and to a large degree it worked. With there even being a couple of sales at 2.0c, after initially looking like it was going to trade at 2.3c.
Silver has been trailing gold all day today, even when gold pushed into positive territory silver refused to overtake it. To some degree this is probably understandable if not expected. Gold has lost a couple of full percentage points to silver, so it is not totally unexpected that silver is currently trailing by about .2%
Had silver been the same sort of gap in front that it has been over the last week, I think we would have seen some very different trading in the late afternoon. Despite sitting around the $31.40 mark for over an hour, people continued to sell down, which kind of blows my mind.
Not that I am complaining because I picked up some more at 2.1c today while people were giving it away. So... what does next week look like. Giving the crystal ball some spit and polish let's take a look... I see, I see a tall slender woman... hang on let me give it another clean...
That's better I see ARD making a fairly decent come back next week getting to 0.025 or beyond. I see silver continuing to go up, and possibly even breaking through the $32 mark. Please note that my crystal ball should not be considered financial advice.
Depending on where we close tomorrow morning I am somewhat optimistic about next week despite it closing lower than I thought it should.
Have a good weekend everybody and I'll see you all back here on Monday bright and early.
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