Silver Miners Sliding, Not Shining
By TradersHuddle:Silver may be known as a shiny, precious metal, but its performance in 2012 has been anything but desirable. Amid savage, Europe-induced repudiation of the risk on trade, the iShares Silver Trust (SLV), the largest physically backed silver ETF, has gone from stellar gains earlier in the year to a small year-to-date loss. Rest assured, that loss looks like it will grow larger in the near-term.Silver's slide has led to another concerning situation: A wicked tumble for shares of silver mining ETFs and the equities that track them. As has been the case with gold and gold miners over the past 18 months, perhaps longer, anytime that silver has offered upside the miners have lagged. Not surprisingly, that makes the miners particularly vulnerable when silver futures tumble, which they have recently.As we just mentioned, SLV has only recently erased its 2012 gains. On the other hand, the GlobalComplete Story »
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