Live silver futures rising crude oil prices often translate

Rising crude oil prices often translate to broader commodity strength, indirectly bolstering silver’s attractiveness as a portfolio diversifier. Finally, keep a close eye on those precious metals, as gold established its ninth consecutive quarterly record high on the first of October. Silver is within striking distance of the 2011 and 1980 highs around the $50 level. Meanwhile, platinum and palladium led the sector in September after posting bullish key reversal patterns in the second quarter, along with silver, and following through on the upside in September and the third quarter that ended on September 30. Precious metals have been on a bullish freight train, and time will tell if the trends continue. Over 200 million troy ounces of silver trades in the London bullion market each day on average. The live silver futures chart shows a potential inverse head-and-shoulders pattern near $23.