The Phaserl


Gold Breaks Key Technical To 3-Month High, Silver Surging

from Zero Hedge:

The last 3 days have seen precious metals surging. Silver is up over 7% – its biggest such rise since Aug 2013, and Gold up 3% – its largest in 4 months. Volume is heavy also. A specific catalyst is unclear but USD weakness is being cited, weak macro data suggesting further easing, China demand ahead of SDR-backing, and finally the realization that the Chinese shift to unconventional monetary policy (LTROs) is a slippery slope to full-blown QE from which few (if any) have ever escaped.

Gold broke above its 200DMA at $1209.60
Silver broke above its 200DMA at $17.23

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