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Pastimes : coug's news and views
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From: coug11/25/2009 11:07:29 AM
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Gold & Silver, How High Will They Go? 2 comments
by: Tim Iacono November 25, 2009

The iShares Silver Trust ETF (NYSEArca:SLV) has been adding to its inventory at a blistering pace in recent weeks - a whopping 512 tonnes in just the last nine days with 136 tonnes coming just yesterday. The price of the metal continues to push higher, still more than ten percent below the early-2008 high of around $21 an ounce and less than half of the all-time high from back in early-1980.



The "poor man's gold" tends to be ignored by a lot of people (including myself from time to time), but it could provide some big surprises here in the weeks and months ahead, particularly if it confirms gold's recent highs by making new multi-decade highs of its own.

The gold price appears to be nearing "escape velocity" but new additions to the world's most popular gold fund - the SPDR Gold Shares ETF (NYSEArca:GLD) have come grudgingly.

With small, steady additions to the tonnes in the trust in recent weeks, it's still about 12 tonnes short of the record-high set back in June. But, by the looks of the gold market these days, that deficit could be made up in the blink of an eye.



That near-vertical ascent in the gold price is certainly scaring a lot of people these days.

But, the big question is whether these people are frightened because it might reverse, or scared that they haven't bought enough of the yellow metal.

seekingalpha.com
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