Silver Future Price Rise per Ounce in Comex

Mining commodity silver futures for December delivery rose 0.8 percent to close at $33.31 an ounce on the Comex. Global silver prices 2011 is up 7.7 percent.

Silver has broken above key resistance levels to 33.09. The close above previous weekly high and Fibo level is bullish. If the market can sustain these higher levels then the next Fibo target is the 50% level at 35.14.

Commodity gold silver ratio is lower today to 51.34. The ratio is at the lower end of its 6 week trading range. Another leg lower would take the ratio to 50.02 which is the 50% of our 1 year range.

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