The Phaserl


Silver Surges By 6% In Shanghai – Longest Run Of Gains Since 1968

from Gold Core:

Silver futures in Shanghai surged by 6% – the daily exchange limit. Silver for June delivery in Shanghai climbed to 4,440 yuan/kg, highest price for a most active contract since October 31.

In London, silver surged another 2.3% today to $21.99/oz prior to giving up some of those gains. Silver headed for the longest run of gains since at least 1968. It is now up 11.3% year to date and is, as expected, again outperforming gold.

Buying in China picked up from Friday’s levels. Premiums for 99.99% purity gold on the Shanghai Gold Exchange rose to about $7 from $5.50 on Friday though volumes were slightly lower.

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