Currently, silver looks much more attractive against the background of gold. When the economy goes back full speed, demand for silver will be high, as it is used in many manufacturing processes.

As an alternative financial tool of the gold, silver is much better both technically and fundamentally for opening positions. Gold is generally for hedging, for protecting inflation and for raising interest rates. At the moment, despite the large amount of money that all central banks are pouring in, I think there will be a slight drop in prices initially.

Silver pulls back following an attempt to break through the major resistance level at the 50 EMA at 15.60 USD.

Following the drop to 2009 lows, the price of silver is rebounding up as the Fed introduced a limitless Quantitative Easing (QE) as well as the injection of 2.3 trillion USD in additional loans while US jobless claims grew to 6.6 million.

The price of silver is hovering below the 15.50 USD level while trading above the mains SMAs on the four-hour chart as bulls are likely looking to extend the bull-run towards the 16.20 USD and 16.60 USD levels. Support could be expected near the 15.00 USD, 14.50 USD and 14.00 USD price levels on any pullbacks.