Silver holding support for the time being. Iran headlines still seem to be the primary driver of short term price action here. Should one side capitulate and a deal be reached, silver is going to take off like a rocket. If the US/Israel resume strikes (this seems likely), US treasury yields are going to soar along with oil, and we could see a sharp breakdown in silver. Any decline is likely to be short lived (and a buying opportunity IMO). With bond yields entering into critical territory, Fed intervention will likely be right around the corner.

@StackSmarter HSBC says they forsee the deficit in silver shrinking and lowered their price targets. Are they trustworthy?

@StackSmarter What about the looming crash threat over the stock market? A bubble burst and the following liquidity crisis has demolished paper metal prices for months in the past.

@StackSmarter I don't see anyone speaking of the volume much. In the last week its been up big. Healthy volume today and its still going up now at 79.25

@StackSmarter That’s not support

@StackSmarter $54 is support