After a
three day losing streak earlier this week, SLV closed the week in style
recording a gain of $0.17. The Priceof SLV was $31.12 at the beginning of the week but the huge losses recorded
on Wednesday saw the price drop by $0.34 to $30.78. Hence, silver managed to
keep its head beyond $31 an ounce.
Part of the
weakness in the SLV market
was expected because of the Lunar New Year Holiday whose festivities stretched
a week long. But investors and expert analysts can’t agree on the aftermath in
the SLV Quote because of
this weekend’s G20 meeting. A currency war in the countries involved is
expected after this meeting.
Experts from
iShares SLV Trust said that both gold and silver tend to remain in a partially
safe haven bias of liquidation, thus it would take revitalized Eurozone turmoil
and softly scheduled data or unimaginable declines in equities to give the
investors a fresh trading interest.
Funnily enough,
as the prices of both GLD
and SLV weaken, most
bullish investors still insist that both metals will hit highs of $50 and
$1,900 respectively.
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![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)
