Wall Street Journal Story on Silver

Some highlights from the Wall Street Journal’s story on silver …

•  The metal is up about 47% so far this year, recently topping $17 an ounce, though it has since slipped to about $16.65.
• The use of silver in industrial applications slipped to 447 million ounces in 2008, down from nearly 454 million ounces the year before, according to the Silver Institute, a non-profit association. GFMS Ltd., a London-based precious-metals consulting firm, says fabrication demand in 2009 is weaker still and will mark a multiyear low.
• So far this year investors have sunk nearly $826 million into the iShares Silver Trust ETF, according to Lipper FMI. That’s close to equaling the $911 million pumped into that ETF in all of 2008.
• Silver-centric stocks like Silver Wheaton have nearly doubled this year.

Go read the whole thing, which has been reposted on Yahoo: http://tinyurl.com/y89fuqn

Now here’s a question — does the Wall Street Journal writing a story about silver mark a short-term top in the silver price?

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