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Silver for Monday, March 7th.

|Includes: GLD, iShares Silver Trust ETF (SLV), WPM

Silver has been having a nice run lately. It has been making a new 31 yr. high almost every day except yesterday. This is good because it needed a breather. Today Silver has traded very well which is evident from the chart below

In my view, Middle East situation deteriorates before it improves. There are other countries like Bahrain and Yemen where protests are flaring up. Which supports the precious metals going up higher. I think Monday (Mar 7th) you will see Silver make another 31 yr. high.

There are many investors here in US who are trying to get ahead of the curve ball and that has bid the commodity higher today. Here is how it has traded

I think you will see Silver closer to $36 than you would see closer to $35 my end of trading day on monday. For retail investors who want to track the moves in silver, they can bet on iShares silver ETF (NYSEARCA:SLV).

Disclosure: I am long SLV.