Don Durrett: $22 remains key breakout level for silver

Silver had a big day on Monday, as it rallied well over 9% to finish near the $20.70 level. Which was certainly welcomed news for silver investors, as the rally also brought the price closer to what Don Durrett calls the breakout level of $22 per ounce.

In today’s call, Don talks about what he sees in the silver chart, and why he feels that $22 is a key level, that once breached to the upside, will be the last time we see silver below that mark.

He also talked about the current trajectory of the Fed’s interest rate hiking cycle, and how he sees more of a Fed ‘pause’ rather than a ‘pivot.’ Which he thinks isn’t that far off, because if the Fed goes much above 4%, the financing cost of the US debt just becomes too massive for the treasury to handle.

Also discussed in the interview is whether gold and silver respond more to inflation, or if it’s really systemic risk that will drive the price going forward. And how it will be gold that leads rather than silver, although they will move together.

So to find out more about what’s coming next in the gold and silver markets, click to watch the interview now!