Gold and silver have just exploded higher (for a change) on the COMEX open, with silver popping through $27, pausing at $27.15, and currently in another vertical move up to $27.30.
Gold has jumped $10 from $1575 to $1585.
As Europe continues rolling over, look for gold and silver to receive more and more safe haven flows as the crisis intensifies.
Silver’s powerful move to $27.30:
Gold’s move to $1585:
Gold needs to continue its rally and clear $1600 at a minimum to see sustained buying, and silver needs to clear $28-$28.50 before we can really become excited about its move.