current silver prices

Investing in Silver: States Support Move to Metals as Dollar Weakens

Investing in silver and gold has become more attractive since the U.S. dollar just doesn't have the clout it once did.

Fears over where the dollar is headed - especially with continued money printing from the central bank - has pushed safety-seekers into investing in silver and gold. Demand has also pushed gold and silver prices to new highs.

The idea of using gold and silver as an alternative currency has spread as the metals have grown more valuable.

In fact, worries that the U.S. dollar is on the cusp of a collapse have lawmakers from more than a dozen states (up from just three in the past few years) seeking approval from their state governments to either issue their own alternative currency or use gold and silver as a currency for settlement of state-related transactions.

Rep. Glen Bradley, R-NC, who introduced a currency bill in 2011, told CNN Money, "In the event of hyperinflation, depression, or other economic calamity related to the breakdown of the Federal Reserve System... the State's governmental finances and private economy will be thrown into chaos."

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Silver Options: How to Protect Your White Metal Profits

Turn on the television or flip through the pages of any major newspaper, and the top stories will be either the stock market's unrelenting rise in recent days or gold's climb to yet another record high.

Without question, both are worthy of note - but the real star over the past eight months has been silver.

Stocks, gold and silver all hit cyclical lows during the final week of August 2010. The Dow Jones Industrial Average bottomed on Aug. 26, closing at 9,985.81, while June Comex gold futures closed at $1,223.30 an ounce on Aug. 24, and July Comex silver contracts settled at $18.121 per ounce on Aug. 23.

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