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Gold Sidekick Silver Breaks Some Ground of Its Own
by Myra P. Saefong, Market Watch:
Silver isn’t just tracking gold, its breaking some ground of its own — at least when it comes to holdings in exchange-traded funds and demand for silver coins.
At first glance, silver appears to be moving in step with gold. Gold’s GCJ4 -0.67% up 11% year to date and up over 7% month to date, while silver’s SIK4 -0.88% up 10% for the year and gaining 11% for the month.
“No matter what silver investors or silver fundamentals say, the silver price follows the gold price,” said Julian Phillips, a South Africa-based contributor to SilverForecaster.com and GoldForecaster.com.
