Oct 21, 2021 Guest(s): Jim Luorio Managing director of TJM Institutional Services
Silver has been "dead money" for the past six months, but its fortune is about to change with the precious metal's fundamentals pointing to a breakout towards $35, said Jim Iuorio, TJM Institutional Services managing director.
After frustrating several months, silver finally found its spotlight, Iuorio told Michelle Makori, editor-in-chief of Kitco News. Silver is up more than 4% on the week so far, with the potential to go a lot higher.
"I've been long silver for quite a while, and it's been a painful trade. Copper broke out of a pretty significant technical pattern last week, and I believe silver is following it today," Iuorio said.