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TDS: 'Going Long Silver Looks To Be An Attractive Bet'

Allen Sykora  

TD Securities calls silver an “attractive” bet after recent price weakness. “Silver, recently deemed the ugly duckling of the [precious-metals] complex, bounced off resistance at $16.80 [per ounce] and is now trending lower with precious metals,” TDS says. “Investor appetite for silver remains lackluster as speculators recently piled on shorts, driving net exposure to its lowest on record. Given our uncertainty that the Fed hikes four times and the likelihood real rates will remain low, we expect precious metals will perform well moving forward — going long silver looks to be an attractive bet.” As of 10:50 a.m. EST, spot silver was 5.2 cents lower to $16.43 an ounce.

By Allen Sykora of Kitco News; asykora@kitco.com

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