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At 1:35 p.m., silver prices were down 0.76% and trading at $14.69 per 5,000 troy ounces – the amount traded on futures contracts.
Since then, silver prices have fallen as U.S. and Chinese stock markets reel from their largest sell-offs in years.
The Dow Jones Industrial Average plunged 6.6% total during Friday and Monday's sessions. Yesterday, the Dow Jones immediately fell 1,089 when markets opened – the biggest intraday decline in the history of the index. China's Shanghai Index has crashed 15.5% just this week alone.
You see, many traders don't realize that silver isn't meant to be played for explosive gains. In general, bullion is meant to diversify your portfolio and provide an asset uncorrelated to broader market volatility.
That makes silver a healthy investment regardless of where the price goes. Buying physical silver is also less risky than trading future contracts on your own as a speculator.
Last month, Money Morning Resource Specialist Peter Krauth outlined a number of ways you can play silver prices today.