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Silver Skyrockets
Description
Business Insider reports that on Tuesday Silver exploded 7%.
Silver also got a boost from European Union's $860 recovery package aimed at long-term investments.
A market analyst at OANDA said silver is benefitting from a "buy-everything" trend hitting global markets.
"The reopening trade is triggering strong industrial demand for silver and now that the $20 level has been cleared, bullish momentum might not see much resistance until its closer to the $22.50 level," according to OANDA's Edward Moya.
Silver also got a boost from European Union's $860 recovery package aimed at long-term investments.
A market analyst at OANDA said silver is benefitting from a "buy-everything" trend hitting global markets.
"The reopening trade is triggering strong industrial demand for silver and now that the $20 level has been cleared, bullish momentum might not see much resistance until its closer to the $22.50 level," according to OANDA's Edward Moya.
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