Silver followed gold and moved high after closing near the psychological support of 20.00. As we discussed last week that silver will be bullish after 20.340. Silver failed to hold higher price levels in recent history. We stopped out at break even today just before opening the US session. Just like yesterday prices moved higher before opening US session and rest of the time there was correction only. We expect that same pattern today too.
Yesterday we observed high volatility with the spread of news that India is going to change his policy about taxes on gold import.