Four Ways To Go Long Silver (Two Are With ETF’s)

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May 27, 2009 10:23am NYSE:AGQ NYSE:SLV

silver-etfSilver has a long history. Ancient cultures used silver for trade, jewelry, and crafts.  Silver ore was first processed by the Chaldeans around 2500 BC as well as in Asia Minor (Turkey).  In an effort to meet rising societal demand, ancient Mediterranean cultures eventually looked to silver deposits in modern-day Armenia.

Later, Rome exploited deposits from the Laurium mines in the Black Sea region.  The Romans used silver and other metals for coinage. The Carthaginians looked to Spanish mines for their silver ore supply. Most cultures have valued that shiny metal known as “gold’s poor cousin.”

As for modern times, silver prices were stagnant for decades before exploding upward the last few years.  A huge gain in silver, along with a similar move in gold, is causing many investors to revisit precious metals……..

…….#3 – iShares Silver Trust (SLV)

As you know, we like exchange traded funds. ETFs usually consist of stocks in a given industry.  iShares Silver Trust ETF is somewhat unique in that it tracks an underlying commodity. SLV tracks closely with spot silver prices. SLV is a trust that that actually owns the underlying silver bullion, hence the name “Silver Trust”. You can purchase SLV in any stock brokerage account.

#4 – ProShares Ultra Silver (AGQ)

We first told you about ProShares Ultra Silver last December. AGQ attempts to deliver twice the daily performance of silver bullion – or 200%. Bear in mind, AGQ is rebalanced every day, so the leverage is not exactly like buying two times the silver bullion. If you think silver is moving up, AGQ could be the ETF for you. But watch that leverage – it works both ways.

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