I recently bought some contracts in iShares Silver ETF (SLV) for Jan 2011 @ $19. Why am I now looking into silver, my reasoning behind it is that the stock market at this point may have topped and for the rest of the summer most likely will go down ( as mentioned in last article). In light of this, GOLD and SILVER have an inverse relationship to the stock market, so my speculation is that within the next six months when the stock market goes down the price of silver will be rising. The iShares Silver ETF is currently trading at $18.43, and I am speculating that it will be above $19 by years end.
The U.S economy is still in the dumps, the job situation is not getting any better, every State / township is going bankrupt, the Government is printing money like it is going out of style and heading towards over 13 Trillion in debt. Add to it the BP Oil spill which has tremendous financial impacts…like tourism and the fishing industry halt in that area which will affects thousands of peoples livelihood.
One other reason that I think that precious metals will move higher because the U.S Dollar value is also going south. But don’t take my word for it (read my disclaimer), here’s a very recent video / audio from Jim Rogers a investing veteran.
Bookmark at:
StumbleUpon | Digg | Del.icio.us | Dzone | Newsvine | Spurl | Simpy | Furl | Reddit | Yahoo! MyWeb
