The Phaserl


It’s time to start buy back in Silver

from BullionStreet:

Silver prices are dropped to that extend to start a buy back, analysts said.

Ever since the US Fed commented positively on US economic recovery, silver keep falling,quicker than gold to as low as below $19 an ounce.

In June alone, silver has plunged 13 per cent to about $18.80 an ounce currently and 35 per cent for the year compared to a fall of less than 12 per cent for gold.

Analysts said no forecaster predicted such a scenario for silver and most of them seen prices hitting $50 this year.

Silver in particular was hit by concerns that Fed might reduce economic stimulus in the US which has seen traders pour money back into the US dollar in anticipation of less cheap cash and higher interest rates, while taking money out of commodities including silver and gold.

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