Is Buying Physical Silver Best for Long-Term Investors?

Cassie Bastien

11/15/2017 12:31:18 PM

Daily Gold & Silver Market Report – 11/15/2017

FX Empire blogger Christopher Lewis says although a “choppy market” is imminent, now is the perfect time to buy physical Silver, especially for a long-term investing strategy. While the rebound could be months or even years away, many analysts believe Silver prices will go higher. Lewis said, “This is a market that is going to continue to be one that is best played in small positions if you are playing any type of leverage market.” Keep in mind, Silver is a very volatile metal and more sensitive to movements in the dollar versus Gold prices. With that, Lewis as well as other investors foresee Silver prices hanging around $17 an ounce, referring to it as a “fair value.” If the U.S. dollar continues to weaken, market watchers will continue to increase their value of Silver prices to $17.50 an ounce, and even $18 for an ounce of Silver.

Gold Charts Rise for Third Straight Day

Helped by a weaker U.S. dollar and lower bond yields, Gold prices have risen for the third-consecutive day. “The biggest factor right now shoring up Gold is the weaker dollar,” Robin Bhar, head of metals research at Societe Generale, said. “Also there’s speculation that tax cuts could be a long time coming, meaning the [Federal Reserve] will not have to be as aggressive as it might have been.” To explain, Business Day Rporter Peter Hobson said, “A weaker dollar makes Gold cheaper for holders of other currencies, which can stimulate demand, while lower bond yields make Gold more attractive by reducing the opportunity cost of owning non-yielding bullion.” ANZ Analyst Daniel Hynes said investors need a trigger to break Gold prices from their averaging between $1,265 and $1,290 an ounce.

• In other Precious Metals, Platinum prices were 0.3 percent higher at $928.50 per ounce.
• The price of Palladium was down 1 percent at $975.50 an ounce after touching a two-week low of $974.25 (BusinessDay.com).

At 1:32 p.m. (ET), the APMEX Precious Metals spot prices were:

• Gold, $1,280.40 Down $5.30
• Silver, $17.06 Down $0.11
• Platinum, $933.80 Up $5.50
• Palladium, $985.80  Down $3.80

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