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This Metal Is Your Best Bet Right Now Says Commodities Trader
Silver has the best potential for growth of all the metals, according to Andrew Hecht, author of the Hecht Commodities Report.
Hecht noted that the gold-silver ratio is at the highest level since 1993, and while the white metal has been a laggard to its gold counterpart lately, it has the potential to see sudden moves.
“Silver is very disappointing, but silver is one of those metals that just likes to sit there and do nothing and then all of a sudden move. I need to see silver get above $15.07 an ounce on a technical basis to validate the recent move in gold, and it just hasn’t wanted to do that,” Hecht told Kitco News.
Hecht said that silver’s current price is positioned to stage a rally but like all precious metals, investment demand is needed to drive the path of least resistance of price.
“I would buy silver on a tight stop because on a percentage basis it’s got the biggest chance to move significantly higher if these metals are going to go higher, and the stop level probably for silver is below the $14.40 level,” he said. (show less)
Silver has the best potential for growth of all the metals, according to Andrew Hecht, author of the Hecht Commodities Report.
Hecht noted that the gold-silver ratio is at the highest level since 1993, and while the white metal has been a laggard to its gold counterpart lately, it has the potential to see sudden moves.
“Silver is very disappointing, but silver is one of those metals that just likes to sit there and do nothing and then all of a sudden move. ... (read more)
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