Is the silver market as hot as ever?
*Bloomberg, by Nicholas Larkin & Glenys Sim, May 29, 2009
“Silver Heads for Best Month Since ‘87; Gold at Three-Month High
Silver headed for its biggest monthly gain in 22 years and gold rose to a three-month high in New York and London as a weaker dollar increased demand for precious metals as an alternative investment.
The U.S. Dollar Index, heading for its biggest monthly drop this year, fell today on speculation gains in equities spurred demand for higher-yielding assets. Precious metals typically move inversely to the U.S. currency. Gold is set for its best month since November.
‘Extreme dollar weakness is adding to the momentum,’ Pradeep Unni, an analyst at Richcomm Global Services in Dubai, said today in a note. ‘Ascending oil prices, concerns of inflation and fears of massive U.S. debt have certainly been supporting’ both metals, he said.”
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