Silver Hits 27 Year High
November 06, 2007
All Precious Metals Continue to Rise
Silver broke a 27 year high mark this morning as it ran up to $15.35 as of this posting.
Gold rose to $823 as investors continued to look for cover amid rising oil prices, mortgage failures and the faltering US dollar.
Platinum cracked its $1450 barrier to drive up to a new benchmark at $1475 and Palladium flirted with $380 as it rose to $376 by mid morning.
Looking back a year to November 6, 2006 we calculate the following eye opening figures for the precious metals bull market; in the past calendar year Gold is up over 31%, Platinum gained 25%, silver climbed nearly 23% and Palladium pushed up just under 15%.
But remember that most all commodities have advanced over this past year, as investors keep groping for solid ground in our quicksand economy. While Gold-Bugs will wave the flag and beat the drums of gold as the only sound inflation hedge, the observant long term investor knows that today there are many reasonable options to spread and strengthen ones portfolio.
Numismatists love to watch a driving bullion market. The integration of precious metals and our precious coins lends itself to our interest in the combined rising values. It's great for your coin collection and good to have new money entering our market, but if you get the itch to delve into precious metals as an investment, get to know the game well before you put your money on the line.
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