Traders are watching for a breakout above the $29 threshold, with momentum indicators hinting at renewed bullish sentiment backed by upticks in COMEX trading volume. 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. To download this statistic in PNG format you need a Statista Account Silver futures chart depicts short squeeze activity, pushing contracts briefly over $29.55 before settling lower. Options market data reveals heightened demand for $30 strike calls.
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