In this time of economic uncertainty, investing in silver and other precious metals instruments is a must.
By devoting even a small portion of a portfolio to precious metals, investors gain valuable protection against inflation, stock market drops, and any other repercussions from Washington's debt-ceiling drama.
In this time of economic uncertainty, investing in silver and other precious metals instruments is a must.
By devoting even a small portion of a portfolio to precious metals, investors gain valuable protection against inflation, stock market drops, and any other repercussions from Washington's debt-ceiling drama.
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Thanks to that "party animal" Ben Bernanke, silver prices today are enjoying a nice bounce.
That's because the U.S. Federal Reserve chairman, along with the other members at the Federal Open Market Committee (FOMC) meeting yesterday, decided to keep the quantitative easing (QE3) flowing steady with $85 billion of bond buying per month.
After the Fed announcement, silver prices rallied by 5.5% to more than $23 an ounce. That's the precious metal's biggest one-day gain since June 28.
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While investors were pulling millions of dollars out of gold funds last month, another commodity was attracting money like a magnet. And despite a gain of 20% since June, many see it as undervalued. Find out what Money Morning Global Resources Specialist Peter Krauth calls "gold on steroids"...
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Back in June when silver hit a 34-month low, nay-sayers thought the metal would be dead as an investment for many months - if not years. They couldn't have been more wrong. Since then silver is up 34%, and there are three huge reasons why this surge still has a long way to go...
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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.
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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...
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