The Hedge Funds Weblog
Is silver the best buy at the moment?
Over the past few months, silver has been performing quite strongly and moved past previous resistance levels and continues to surge ahead inspite of big concentrated short positions by commercial traders on the Comex.
It seems that a large number of individual investors and hedge funds are looking for delivery of physical silver due to risk of unallocated paper promises getting widely understood. In this month itself, 453 silver contracts have been delivered on the Comex which equals to 2.3 million ounces. In case of ETF SLV too, nearly fifteen million ounces of silver has been withdrawn since late February.
It would be great if you could buy some silver metal. You could even purchase shares in selected silver miners as it can give extra leverage to the rise in price of silver and you should book a part of your paper profits for increasing your physical holdings. This would work towards maximizing your returns and at the same time build a safety net for you.
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