Silver breaks above $25 - correction complete?

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Matt Simpson financial analyst
By :  ,  Market Analyst

Despite higher yields ahead of US inflation data today, silver has been able to rally as traders have seemingly placed a greater emphasis on lockdowns in China. Another tailwind for metals in general came on Friday. The LME announced it was suspending trade of newly-refined palladium and platinum from Russia which helped silver rise to a 3-day high ahead of yesterday’s breakout above $24. Whether it can continue higher on a fundamental basis remains to be seen but, as we explain in today’s video, technically it appears silver has seen the end of a correction around $24.

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