Categories: General Market Commentary / Precious Metals
Topics: General Market Commentary / General Precious Metals

Silver looking good but what will it take to hit $50?

It may take another miracle to hit $50 an ounce for silver, said Todd Horwitz, chief strategist of BubbaTrading.com, but another analyst offers a different view.

“I think it’s going to be more of an organized rally but you never know. Once the big money comes into these markets, these markets really move. We saw quite a bit of funds flow into platinum, platinum’s up $35 today, and that’s a smaller market,” said Phil Streible, senior market strategist of RJO Futures.

Streible added that while a parabolic move for silver may occur, he doesn’t see it happening quite yet.