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Silver And Gold Remain In Bull Mode This Morning



February 28, 2011 – Comments (0)

This morning both silver and gold are trading higher and remains near 52 week highs. The iShares Silver Trust ETF(NYSE:SLV) is trading higher by 0.54 cents to $33.10 a share which is a new 52 week high. The SLV looks to have some minor intra-day resistance around the $33.25 level. Should the U.S. Dollar Index continue to decline the SLV could see higher prices.

The SPDR Gold Shares(NYSE:GLD) are trading higher by 0.59 cents to $137.99 a share. The all time high for the GLD was made on December 7, 2010 at $139.54 a share. Short term traders can look for the GLD to have intra-day resistance around the $138.50 level. As long as the U.S. Dollar Index continues to decline gold and silver could continue to climb higher.

Nicholas Santiago

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