The big surprise this morning was that the US jobs figures…surprised to the upside, and then some. Gold prices promptly fell by as much as $18 (all the way back down to $1,682) in the wake of the report that showed US unemployment falling to 7.7%.
If asked to name the top performing commodity of the past decade, not many would answer silver because of its notorious volatility. Yet, according to Lloyds TSB, silver prices have delivered the best gains since 2002.
After taking a closer look at SIL, a case can be made that this ETF represents an excellent proxy for this high-risk high-reward sector. And as a new wave of investors find their way to silver stocks, SIL will be waiting with open arms.
Silver gives you additional diversification into the precious metals space with that extra bit of spice on the volatility side. It is nothing less than owning gold with a turbocharger. Silver gives you a nice double play.
A few months have passed and we were interested to see how silver miners have reacted to Eric Sprott’s open letter calling silver miners to arms last November. Mr. Sprott urged the miners to think about bit more deeply about their precious product.
The pressure is on for the world's mining community to ramp-up production to meet burgeoning worldwide silver demand, mostly from investors but also from the increasingly silver-reliant industrial sector.