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Silver And Gold In Play



February 15, 2011 – Comments (0)

This morning the iShares Silver Trust ETF(NYSE:SLV) is trading higher by 0.12 cents to $30.08 a share. The SLV has been in rally mode for the past three weeks. The daily chart of the SLV remains above the daily 20 and 50 moving averages which put the SLV in a strong technical position. Traders can watch for intra-day resistance around the $30.40 level.

Gold is also trading higher this morning. The highly popular SPDR Gold Trust ETF(NYSE:GLD) is trading higher by $1.02 to $132.99 a share. The GLD will have some minor daily chart resistance around the $134.00 level.

Most silver and gold mining stocks are rallying higher this morning. Silver Wheaton Corp.(NYSE:SLW), Newmont Mining Corp.(NYSE:NEM) and Agnico Eagle Mines Ltd.(NYSE:AEM) are the leading gold and silver stocks today.

Nicholas Santiago

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