Sales of 1-Ounce American Silver Coins Soar, U.S. Mint Says

The market knows that the elimination of paper layers, or possession of gold and silver bullion, is the lowest risk option.

Volume is contracting at the 11/05 gap support. This is a bullish setup.

The break of the upper trading channel will be no easy feat. Once this zone falls, the gloves will come off in the silver market.

Paper Silver ETF (SLV):

Sales of 1-ounce American Eagle silver coins are headed for the strongest month since at least May, the U.S. Mint said.

About 3,175,000 of the coins have been sold this month, compared with 3,633,500 in May, according to data on the Mint website. Silver futures in New York touched a 30-year high of $29.34 an ounce on Nov. 9.

Source: bloomberg.com