Demand In Silver Investments To Overtake Gold In 2009? (SLV)
Demand for silver investments is heating up in 2009. “The rise in silver prices has also been largely thanks to a fresh wave of investment demand, as funds and other investors buy into silver futures and physically backed exchange-traded funds (ETFs), ” Reports Commodity Online.
“The growth in investment demand for silver is such that it could account for between one quarter and one fifth of total consumption in 2009. As well as the sharp climb in silver ETF holdings, net long positions — or commitments to buy — in silver on the Comex futures exchange in New York rose last month to the highest since August 2008, suggesting keen speculative interest,” Reports Commodity Online.
Commodity Online continues to say “In addition to its appeal as a proxy for gold, silver is also taking a fresh leg higher from renewed optimism over the outlook for the global economy, which is helping the outlook for industrial metals.”
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Something to keep in mind as speculators pour into the investment of silver is “With much of the fresh investment since the start of 2009 having flowed into ETFs, from where it can quickly be re-sold on to the market, and futures, some say prices are vulnerable to a sharp correction if funds decide to off-load their holdings,” Reports Commodity Online.
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