CIBC - Slams Silver

By David Morgan
13 February 2009 @ 12:40 pm EDT

This week I'm going to comment on Jon Nadler's remarks in his February 9 article titled The Silver Medalist. Jon pointed out some interesting quotes about the silver market and some of these I have issue with and some I don't. Mostly what he did is quote CIBC Global Markets and their assessment of the silver market. And one thing that he quotes from CIBC is that in 2008 silver had risen to about $20 an ounce and lately it's been languishing at around the $10 level; those are facts, no dispute there. And then they (CIBC) goes on to state at the first sign of a decline in gold, investors are likely to sell their silver holding but retain more of their gold holdings since gold has a supe¬rior reputation as an insurance policy, compared to silver. I really don't have an issue with that, yet.

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