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?
More on this topic
(What's this?)
The No. 1 Way to Profit When Silver Upstages Gold
(Money Morning, 9/28/09)
“This Silver Stock Set to Soar in 2010″
(Stock Gumshoe, 1/12/10)
Finding Option-Sized Gains from $25 Silver
(Contrarian Profits, 10/8/09)
Silver To Fly To the Moon?
(Investment Guide|Precious Metal ..., 10/13/09)
Related Posts
- Silver Transcript — Gold and Silver News — More! (12/01/09)
- Must-Read Gold Story of the Day (12/02/09)
- Another Warning — This Time on Paper Silver (09/21/09)
- 2 Charts and News on Gold and Silver (10/22/09)
- Silver, Platinum and Gold (01/25/10)
{ 4 comments… read them below or add one }
Hello from Russia!
Can I quote a post in your blog with the link to you?
Hi,
Thank you for the great quality of your blog, every time i come here, i’m amazed.
black hattitude.
Sure, go right ahead!
Sean,
I am a firm believer in silver. I have been investing and reading a lot in the last two years about silver. I love the information you guys give out. I am buying a few hundred shares of your recommendation which produces silver in Mexico. After that, I will have physical silver and then I will have silver through this stock purchase.
Thanks again for the great info!
George