Silver shot higher nearing $41.50 during overnight Asian trading before being smacked down by Blythe's London friends back to the $40.55 area. The first hour of COMEX trading has seen silver bid back right up to the $41 level. Expect Blythe to arrive for work in the next 30 minutes...the cartel will try everything they can to keep silver under $41 today. If Blythe cannot get her gang together in the next 30-45 minutes, silver will take out $41, and we will see a run back to the high near $42 today.
Gold received similar treatment, selling off almost exactly at the $1465 level we noted seems to be current resistance. Gold continues to trade in a rather tight range trade from $1450-$1465. Look for silver to drag gold higher should it convincingly break $41 and run back towards the highs. Should be an interesting trading day!
