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Silver ETFs to follow Gold in 2009



January 24, 2009 by · Leave a Comment 

Commodity Online

A report from India’s National Commodity and Derivatives Exchange (NCDEX) says though Silver is currently plagued with the problem of supply surplus and falling prices, Silver ETFs will do well in 2009.
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“Silver as we have been saying all along rallies well and outshines Gold during bullish phases but hits worse when the bears rule, losing all that it gained and much more. But Silver ETFs will shine in 2009,” said NCDEX economist Manasee S. Gokhale.

In December too, Silver loyally followed Gold and began treading higher rising about 35 percent from its low times in October and gaining as much as 15 percent in December alone. Even in early January, Silver climbed higher to reach $11.71/oz, but when its time to fall, Silver will lead the way.

That would indeed be an apt term for this metal that has to balance the fine line between being an industrial metal and an investment metal. During the severe fall in precious metals in March last year which later rallied in July, Silver lost about 60 percent while Gold’s correction was at its maximum 34 percent. Read more….

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