investing in precious metals today- Money Morning - Only the News You Can Profit From.
Precious metals investors are investing in silver now at a higher rate than gold - and the price is rewarding them.
The physically backed iShares Silver Trust (NYSE: SLV) took in $88.2 million in new money last month, according to data from IndexUniverse. UBS expects holdings in maj
Precious MetalsSilver Price News Today
Topping silver price news today is how the flight-to-safety trade is back on, as evidenced by recent moves in commodities.
Despite some profit taking Friday, silver prices rose roughly 5% this week and 1% last week. That helped the white metal log a sterling 21.3% gain for August and nearly 30% over the last nine weeks.
Precious MetalsHow China Makes Investing in Gold a Winning Move
Gold prices today touched over $1,346 an ounce - continuing this week's rise to the highest level in three weeks.
This move came despite news that larger investors are no longer investing in gold as much as earlier this year.
Billionaire investor George Soros sold his entire position in the SPDR Gold Trust (NYSEArca: GLD) in the second quarter of 2013. Another billionaire investor, John Paulson, reduced his holdings in GLD by 53% in Q2.
Precious Metals5Where Silver Prices Are Trading Today – and What's Next
Silver prices today continue to wander aimlessly around the $20-an-ounce level as the white metal is buffeted by many of the same factors restraining the gold price. This drifting comes after a dramatic drop of 35% in the first half 2013.
As with gold, much of the drop is due to fears that the U.S. Federal Reserve will begin "tapering" purchases of bonds from its current $85 billion-a-month level. If this comes to pass, the financial markets currently believe this will reduce excess liquidity and therefore any possible inflationary fires.
Here's what investors watching today's silver price have to understand...