Silver Stuck Below US$30, Look to Labor Day for a Change

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The US$30 per ounce level continues to be a point of resistance for silver, but according to David H. Smith, that could change as the year continues.

Smith, who is senior analyst at the Morgan Report, said he's looking toward Labor Day for a change."It's been almost a year, it's been longer than people expected. (US$30 has) proven to be more of a difficult area to break through than people imagined," he said.

"But I think that area is getting long in the tooth, and I wouldn't expect it to hold up too much longer as we head into the fall, and after Labor Day for sure."

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