Is It Time To Trade This Precious Metal That’s Soared 20% Over The Past Month?
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As whispers of a economic downturn get louder and louder, it’s time for investors look for ways they can defend their portfolio against losses. There are plenty of ways to play some defense with your portfolio and today we are going to look at one that has been flying somewhat under the radar.
Gold has proven to be one of those defensive plays, but what about gold’s counterpart?
iShares Silver Trust (SLV)
Today, we wanted to highlight the performance of a little talked about precious metal, silver, which has seen gains of over 20% in the past month alone. Over the same time period, this performance from SLV has dwarfed that of the performance of GLD, a fund that tracks the price of gold, which has seen gains of just under 7% over the past month.
So while all the talk about investing or trading precious metals has been centered around the shiny yellow metal, silver has quietly mounted an attack of its own. Will the market losing values on fears of the looming recession, silver could just be getting started. Keep SLV on your watchlist for a possible pullback to enter into a trade to the upside, should these fears continue to grow.
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I look forward to trading with you, but until then, as always…
