The Chinese Start Buying Silver: BofA Says “Momentum Breaks Out To Highest In Years”
by Tyler Durden
ZeroHedge.com
04/19/2016
Spiking demand for silver has pushed it to fresh 10 month highs above $17/ounce. One reason suggested for the buying came from Reuters, which said “that there is heavy buying in silver in Shanghai, and that has triggered buying in gold as well,” said Ronald Leung, chief dealer at Lee Cheong Gold Dealers in Hong Kong. This may just be the beginning as technicians are finally starting to pay attention.
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