Silver is up again overnight trading above $90.00 per troy ounce. The metal has gained almost +40.0% in a month.

One of the most straightforward ways to play Silver as a UK retail trader is Fresnillo FRES LN, one of the worlds largest silver miners, with extensive operations in Mexico.

Fresnillo have rallied by just over +34.0% in the last month and by +481.0% in the last 12 months.

Against that background you may feel you have missed the boat. However while silver supplies remain constrained, and geopolitical and macro uncertainty abound, there is no reason to think that silver can’t go higher again .

Of course in a situation like this we need to listen to what the market is telling us and not jump in blindly.

Fresnillo is in overbought territory on the RSI 14 indicator this morning with a reading of 76.00 however spot silver has an RSI 14 of just 61 following a pull back.

My commentary in the last month has been commodity centric the reason for that ? Well quite simply its where the action is right now to my mind.