From the Globe & Mail:
The poor cousin to gold has been in the shadows of the bullion upsurge. Now the shiny metal is on its own flight upward
While silver (SI-FT21.00-0.05-0.24%) has long been overshadowed by gold as an investment, the surging price of the yellow metal this year is helping to drag its cousin into the limelight again.
Silver for December delivery settled last Friday at $20.82 (U.S.) an ounce on the New York Mercantile Exchange – the highest level in the three decades since the Hunt brothers of Texas tried to corner the silver market in 1979. It closed Tuesday at $20.64.
Many of the same factors driving gold (GC-FT1,292.00-0.10-0.01%)higher are also propelling silver. In both cases, investors are looking for havens from fears of slumping currencies and future inflation.
Just as with gold, opinions are sharply divided on silver’s future, with some investors trumpeting its potential for further gains, while others are busily selling down their stockpiles to take advantage of the recent high prices.....read on