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A break above $33 an ounce in silver signals further upside toward our targets near $33.90/$34.40.

21 Nov 2012

NEW YORK (Commodity Online): Silver is outperforming gold as metals rise, said Barclays Capital in a daily commodity research note.

According to the British bank, a break above $33 an ounce in silver signals further upside toward our targets near $33.90/$34.40.

“We are looking for a similar move above $1,739 in gold to confirm upside toward $1,755 and then $1,775, which shields our greater target near $1,800,” Barclays concluded.

Global silver prices are slightly higher in the early morning trade on Wednesday. There is a fresh batch of U.S. economic data due out Wednesday morning, ahead of the U.S. Thanksgiving holiday on Thursday.

December silver last traded up $0.09 at $33.02 an ounce on the Comex division of the New York Mercantile Exchange.


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