In normal times, positive job reports in the US is bad news for silver, which is known as a safe-haven investment. Prior times, the market took time to digest such news and then silver prices continue upward. But today, silver shrugs off the positive jobs report on sustained tensions in the Middle East.
The strongest point for silver is that there is a third more demand than supply and as an industrial metal, the metal is always being consumed. But silver’s 19% surge in February has been too fast and a pull-back should be expected. Over the long run, I believe that the fundamentals for silver is strong and I’m patiently waiting to reload on silver miners at a dip nearer to $30/oz.