Chris Flood wrote an article in the Financial Times Oil stabilises while platinum hits record (subscription required) concerning silver.
Silver reached a new 18½-year high at $9.53/$9.56 a troy ounce after US regulators moved closer to approving an AMEX listing for Barclays Global Investors’ silver exchange traded fund. Gold retreated to $558.30/$558.90 a troy ounce with traders awaiting today’s US gross domestic product data for direction.
I am not sure that Barclays Global Investor's silver exchange traded fund is responsible for the latest price rise, but I doubt that it is hurting the price of silver.
As a matter of disclosure, I remain long Pan American Silver Corp. (PAAS).
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