We are for the week up, 4% percent. So that is impressive. You still have the pattern of lower highs and lower lows. The market rallied to the 18-day average.
The market has held that challenge on a weekly basis of hitting the 18-week average zone of $2585. For the week, you're up 3.19%—that's a good gain at this point.
The Silver Institute noted that record industrial demand and a recovery in jewelry and silverware will lift demand to 1.21 billion ounces in 2024, while mine supply will rise by just 1%.
Should the stock market slice through that support over the coming weeks or months, then we have an early warning sign that a major bear market has potentially begun.
