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Private Briefingwith WILLIAM PATALON III, Executive Editor
Today I want to tell you the tale of how the Scottish secession referendum is killing the Japanese yen.
That’s right – the Japanese yen.
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Silver prices hit a six-month high at the end of the last week, closing around $35 per ounce.
In the last month, silver has undergone an 18% rally and year-to-date it is up 24.28%.
Silver and gold, which hit its own six-month highs, provide a nice hedge from inflation resulting from recent central bank action such as the U.S. Federal Reserve's latest stimulus measure, QE3.
"While QE1 and QE2 clearly did little to help the unemployed, their effects on the markets were undeniable," said Money Morning Global Resource Specialist Peter Krauth. "Commodities soared. Since March 2009, Gold is up 97%, silver is up 162%, oil is up 122%, and the Continuous Commodity Index (CCI) is up 55%."
Something metals investors should note: The white metal has been outperforming gold.
After February highs for both metals, gold rebounded sooner than silver did. By mid-May, it was back, while silver took until June to see gains again.
When rumors started earlier this year that QE3 would be announced, silver was just coming off of its low. The rumor mill gave it enough fuel to light a fire under the price, and after the recent Fed announcement silver price gains have outpaced those for gold.
Since Team Bernanke announced QE3 on Sept. 13, silver prices are up 2.7% while gold has gained about 0.6%.
Now that Fed Chairman Ben Bernanke just gave metals a shot in the arm, here's how to play a nice silver price rally with exchange-traded funds (ETFs).
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