Commodities: Silver
How about silver as a metal & SVL as “the biggest silver AU deposit”? Thanks
On Tuesday you suggested that you were bullish on silver for 24. So can you suggest some silver producers to consider investing in?
Gold popped almost $US50/oz yesterday evening, posting another fresh all-time high in the process as investors/traders further digested last week’s market-friendly PCE Index data. The Fed’s preferred gauge of inflation is cooling which suggests the Fed is getting ever closer to cutting rates. The precious metal is also enjoying the added tailwind of powerful Chinese demand and ongoing global political tensions, what’s not to like? Gold has surged ~12% over the last six weeks, and with no near term end in sight for the three bullish drivers mentioned previously, we can see it testing $US2400-2500 before Christmas.
US indices edged higher overnight, but following this month’s strong advance, they do feel tired and in need of a few days’ rest before another leg higher into Christmas is likely. However, the current trend is up and this is not the seasonal time to be fighting bullish moves. The ongoing strength by the Dow & Co. is being fuelled by optimism that the Fed has finished raising rates.
The US banking crisis continues to slowly improve but that is leading to a bounce in bond yields which is weighing on growth stocks e.g. the US 2 years have rallied from 3.55% to 4.07% in just 3 days.
Like to know silver mining companies in Australia and Australian ETF for gold and silver miners.
