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After again rising strongly last week, Silver opens even higher today as the price looks likely to challenge the 14-year high and possibly the record high above that.
- The standout asset in the market right now is Silver, which has enjoyed a very strong and reliable rise over recent weeks, as part of a very long-term bullish trend. Monday's Asian session usually sees little action in precious metals, but spot Silver is already trading at a high well above Friday's close. The 14-year high set in August 2011 is under threat, and the record high made earlier that year also looks like it could be reached or even exceeded. Trend and momentum traders will want to be long here.
- Gold is also in the news after it made a fresh all-time high on Friday above $3,700 per ounce, and it is currently trading very near that high. Trend and momentum traders will also want to be long here.
- Stock markets are mostly bullish, with the major American market indices making new record highs last Friday. The NASDAQ 100 Index is outperforming the S&P 500 Index. Again, trend and momentum traders will want to be long here.
- In the Forex market, the Australian Dollar has been the strongest major currency since today's Tokyo open, with the Japanese Yen the weakest. The Aussie has been helped by testimony from the Governor of the RBA who testified before the Australian Parliament earlier today. There is focus on the EUR/USD currency pair, which made a substantial bullish breakout last week by closing at a new 4-year high price, but is now trading considerably lower.
- Tomorrow is a public holiday in Japan.