Silver price breaks out of a declining pattern and rallies 9% on Bank of Japan money printing

Silver market update for Wednesday, April 10th. Silver has bounced off the bottom of its trading range in the last few days, jumping nearly 9% to just under $28 per ounce. News of Japan’s $1.4 trillion money printing program also helped boost silver off its lows. Even though the stock market has reached record highs in the last couple of months, many expect a correction in the 2nd half of 2013. This will help silver, but more importantly, silver is seen by many as a safe-haven asset. If a crash in the bond market occurs – which many think is a real possibility in light of Japan’s money printing – silver can explode to new highs again as investors rush to this safe-haven asset. Read more…