Tuesday, May 3, 2011

Golden Opportunity to buy Physical Silver

The news of the killing of Osama Bin Laden has only temporarily slowed the price of gold. The yellow metal futures expiring in June ended today, rising 0.1% to $ 1,557.10 an ounce. The gold price has been supported by further weakening the dollar. The price of silver has held its exceptional rather abruptly to rise. The futures maturing in July has lost 5.2% to $ 46.08 an ounce. During the meeting, the silver price has come down by 13%, the biggest intraday drop since October 2008. The CME Group , the company that manages the NYMEX (New York Mercantile Exchange), has decided to increase for the second time in a week the initial deposit required to secure transactions on the futures on silver. The measure has forced many small speculators to close their positions.this pullback in silver price is a Golden Opportunity to buy Physical Silver

Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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