Short-term: expect the silver price to move up to $49 before giving new direction. More importantly, there has been a critical fundamental change in the shape of silver demand that has changed the long-term prospects for silver.
Having moved up to $50 previously on the back of major banks hurriedly closing their short positions, the silver price has spent time since then consolidating, as you see in the chart to the right. The move up to $40 is not simply silver following gold, but an indication of a major structural change in the size and shape of demand for silver.
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