The Silver ETF (SLV) Has Nowhere To Go But Up

silver-etf“Gold is on another amazing run, breaking $1,000 and not looking back. IDE’s Rusty McDougal thinks it still has lots of room to move up. I agree. But I have something much better than gold for you right now. It’s a metal whose supply and demand is completely out of whack… I’m talking about silver. Because the world’s stockpile of this metal has taken a tumble of historical proportions,” Howe Street Reports.

“In 1950, silver companies were maintaining a 10 billion-ounce stockpile. It dropped to a mere 3 billion as of a few years ago. And now? Silver’s stockpile has been reduced to a pathetic 140 million ounces – just a four-month supply. That’s 98.6% less than what was being stockpiled 60 years ago! No other metal has experienced a drop anything like it. And with the traditional sources of silver in Nevada, Canada, Mexico, and Peru drying up, silver output isn’t even within sniffing distance of meeting demand.”

“For 11 years running, supply has failed to keep up with demand. Last year, output reached 680 million ounces. But demand was 888 million ounces, creating a 208 million ounce shortfall. Amazingly, the world’s in danger of running out of silver. That makes buying the silver ETF (SLV) a nice move right now. Silver’s price has nowhere to go but up,” Howe Street Reports.

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The objective of the investment (SLV) is to reflect the price of silver owned by the trust less the trust’s expenses and liabilities. The fund is intended to constitute a simple and cost-effective means of making an investment similar to an investment in silver. Although the fund is not the exact equivalent of an investment in silver, they provide investors with an alternative that allows a level of participation in the silver market through the securities market.

Chart for iShares Silver Trust (SLV)

 

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