A Buying Opportunity for Silver ETFs?
Silver prices have been pushed below $30 an ounce in the recent sell-off as investors raise cash in the wake of the collapse of commodities broker MF Global. Europe’s debt crisis and fears of deflation have hurt the white metal, but some see a buying opportunity at these price levels.
The latest decisions from the Federal Reserve and the European Central Bank to refrain from additional monetary stimulus have pushed silver prices lower. Last Wednesday, silver prices slumped 7% in one day, reports Myra P. Saefong at MarketWatch, and futures are currently trading under $30 per ounce. Silver has lost about 11% for the month.