Silver (SLV) Continues Dragging as Traders Evaluate Potential
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Wait, invest in silver? You're crazy.
According to market action for the versatile precious metal, that's exactly the sentiment. The iShares Silver Trust (NYSE: SLV) is down about 2.5 percent Thursday afternoon.
With economic growth slowing, demand for the metal, which is used in things like solar panels and jewelry, is waning. Though the metal has seen a more rapid rise in value over the last year to 18 months, those seeking a hedge to market volatility have been absent with no action still be taken by the Fed and the ECB, IMF, and EU also dragging their feet.
No near-term catalysts are adding to sentiment that silver may have seen some of its best days pass.
At about $26 per ounce, the metal is well off highs above $45 hit last year.
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According to market action for the versatile precious metal, that's exactly the sentiment. The iShares Silver Trust (NYSE: SLV) is down about 2.5 percent Thursday afternoon.
With economic growth slowing, demand for the metal, which is used in things like solar panels and jewelry, is waning. Though the metal has seen a more rapid rise in value over the last year to 18 months, those seeking a hedge to market volatility have been absent with no action still be taken by the Fed and the ECB, IMF, and EU also dragging their feet.
No near-term catalysts are adding to sentiment that silver may have seen some of its best days pass.
At about $26 per ounce, the metal is well off highs above $45 hit last year.
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