Monday, March 27, 2006
Silver Closes In On $11
Newsday covers the days' trading action. "Silver hit a fresh 19-year high Monday on anticipation of a silver exchange-traded fund, driving an impressive rally in precious metals. The May silver contract on the New York Mercantile Exchange reached $10.94 an ounce Monday, then later settled at $10.895 an ounce, up 16 cents."
"Silver's buying momentum did run into some profit-taking late in the session, but the white metal is widely expected to extend its rise. Analysts at MKS Finance said it expects silver to challenge major resistance at $11 an ounce, due to the strong anticipation of the silver ETF listing."
"The rally in silver spilled over into the gold market, where the most active April gold settled the day up $6.90 at $567.40 an ounce. Earlier in the day, the contract reached a three-week high of $568.60 an ounce.'
"The platinum group metals also got a jolt, as the most active April platinum contract settled $16.90 higher at $1,068.50 an ounce. Earlier, the contract rose to a 5 1/2-week high of $1,072 an ounce. June palladium followed suit as it rose to a high of $344 -- marking a new contract high for the metal. It later settled at $342.80 an ounce, up $8.75 on the day."
"Silver's buying momentum did run into some profit-taking late in the session, but the white metal is widely expected to extend its rise. Analysts at MKS Finance said it expects silver to challenge major resistance at $11 an ounce, due to the strong anticipation of the silver ETF listing."
"The rally in silver spilled over into the gold market, where the most active April gold settled the day up $6.90 at $567.40 an ounce. Earlier in the day, the contract reached a three-week high of $568.60 an ounce.'
"The platinum group metals also got a jolt, as the most active April platinum contract settled $16.90 higher at $1,068.50 an ounce. Earlier, the contract rose to a 5 1/2-week high of $1,072 an ounce. June palladium followed suit as it rose to a high of $344 -- marking a new contract high for the metal. It later settled at $342.80 an ounce, up $8.75 on the day."
# posted by Ben Jones @ 4:18 PM 
Comments:
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Starting to think I should have some of those palladium coins!
Rhodium's by far the best percentage performer, but you can't hold it physically and the entry point is so high... argh!
Love my silver, though. Gotta get more!
Rhodium's by far the best percentage performer, but you can't hold it physically and the entry point is so high... argh!
Love my silver, though. Gotta get more!
I only have one palladium ounce bar. I had an opportunity to buy palladium maple leafs for $305 each. But I was only willing to buy them at $300 -- my frugal strike price. Oh well.
Congrats fellow silver longs. $11 came faster than I suspected.
Congrats fellow silver longs. $11 came faster than I suspected.
john_law_ii,
Following is one thing, investing is another. Do you have any? Unfortunately, the only palladium I have is my high school class ring.
BTW, read that the silver ETF will base each share on 10 ounces. That means a silver ETF share will cost double that of a gold ETF share. Any thoughts on that? I was hoping for a 1-to-1 thing, myself.
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Following is one thing, investing is another. Do you have any? Unfortunately, the only palladium I have is my high school class ring.
BTW, read that the silver ETF will base each share on 10 ounces. That means a silver ETF share will cost double that of a gold ETF share. Any thoughts on that? I was hoping for a 1-to-1 thing, myself.
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