The Phaserl


Silver Holdings on Rise as Year Draws to a Close

by Michelle Smith, Silver Investing News:

Coming off the Christmas holiday, silver edged higher on Thursday as investors covered short positions and hunted for bargains during what has become a month-long downward trend for the precious metal.

Trading was thin, with investors keeping a close eye on White House-Congress talks aimed at preventing the US economy from plunging into recession in 2013. On Wednesday, John Boehner, Republican House of Representatives speaker, urged the Senate to act to pull back from the so-called “fiscal cliff.”

The United States faces $600 billion in tax hikes and spending cuts beginning in January unless a deal is reached to either replace or delay them.

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