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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (21819)	7/20/2011 12:04:08 PM
From: Honey_Bee	Read Replies (1) \| Respond to of 220883

As I suspected, silver prices were being influenced (at least a little) by the debt ceiling bruhaha. Interesting article at ETF Trends: "Precious metals investors are trying to figure out if silver prices are next heading to $50 an ounce or $30 as the metal falls 4% on Wednesday morning amid news of progress on the U.S. debt ceiling. Silver exchange traded funds crashed this spring partly on tougher margin requirements for futures contracts that removed some of the speculative froth from the market. However, silver ETFs are perking up again as global debt jitters and industrial demand help boost prices for the metal. Silver prices climbed above $40 an ounce earlier this week but were pulling back on Wednesday. Futures slipped below $39 in morning trading. Fund manager Eric Sprott believes silver prices may continue to climb and bring the gold/silver ratio back down over the next five years as the global debt crisis continues to worsen, according to The International Business Times." Read more, Sprotts predicting $50 ounce by year end: etftrends.com