Silver or Gold, Which Precious Metal Will Die First?
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The boom in precious metals has been anything but a money maker so far this year. After years of rising prices, precious metal prices have flat-lined, causing many to wonder if the lack of energy is caused by fatigue - or perhaps it's time to call the priest and issue last-rights.
Year-to-date, the SPDR Gold Shares (NYSE: GLD), an ETF that tracks the spot price of gold, is down over 1 percent. The Silver ETF (NYSE: SLV) has an even more disappointing ROI, and is down 2 percent over the same period.
Considering their performance in May, which is negative 6 percent and negative 10 percent respectively, many investors are considering dumping precious metals, if they haven't already.
Alternatively, with the collapse in prices, many commodity traders are considering dipping a toe back into precious metals. Both commodities seem to have near term technical support, and assuming inflation picks up or if the dollar rally comes to an end, both the GLD and SLV could soon be popular again. Until then, the trend is clearly down and precious metals could be bedridden for a few more months.
Year-to-date, the SPDR Gold Shares (NYSE: GLD), an ETF that tracks the spot price of gold, is down over 1 percent. The Silver ETF (NYSE: SLV) has an even more disappointing ROI, and is down 2 percent over the same period.
Considering their performance in May, which is negative 6 percent and negative 10 percent respectively, many investors are considering dumping precious metals, if they haven't already.
Alternatively, with the collapse in prices, many commodity traders are considering dipping a toe back into precious metals. Both commodities seem to have near term technical support, and assuming inflation picks up or if the dollar rally comes to an end, both the GLD and SLV could soon be popular again. Until then, the trend is clearly down and precious metals could be bedridden for a few more months.
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