Everything Silver Remains Hot
The iShares Silver Trust(NYSE:SLV) is trading higher again today by 0.30 cents to $31.33 a share. This is a new multi-year high for the precious metal. The SLV as climbed higher by 20.0 percent since January 25, 2011. Problems continue to erupt in Europe, and the Middle East on a daily basis. Silver and gold are both considered true forms of currency and will often rally when fear enters the market place. The SLV will have some minor intra-day resistance around the $31.50 area and more around the $32.00 level.
Silver Wheaton Corp.(NYSE:SLW) is the leading silver streaming stock in the world. This stock will usually trade higher when the commodity itself trades higher. This morning Silver Wheaton stock is trading higher by $1.25 to $38.02 a share. Silver Wheaton stock will have minor intra-day resistance around the around the $38.40 area.