Money continues to move into gold and silver as a result of currency devaluation throughout the globe. Increased tension within the middle east is nothing more than a convenient, headline excuse.
Headline: Hedge Funds Boost Bullish Silver Bets as Mideast Tensions Mount
‘Silver Over Gold’
“If I had to, I’d pick silver over gold,” said James Dailey, who manages about $200 million at TEAM Financial Asset Management LLC in Harrisburg, Pennsylvania. “Gold and silver are picking up market share in the currency world as a store of value. Silver’s also got the tailwind of the global industrial expansion.”
Source: bloomberg.com
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