Precious Metals Daily

Precious Metals quote of the day:

“The current price, near multiyear lows, might prove to be a great entry point for far-sighted investors who think silver prices will trend higher again in coming quarters.”

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Financialnewsroom.com Comment:

While we are not sure that silver will not test the $26-$27 level, current prices around $29-$30 may, indeed, be an attractive entry point for investors looking to hedge themselves against inflationary scenarios and, at the same time, profit from silver’s upward potential. Depending on your nerve, observing the market to trend lower and then enter at around $27 might be an attractive entry point for investors looking to extend their positions.

Gold is in a similar position and bound to fall back even further, unless the $1600+ level is cleared to the upside right away (and barring any extraordinary fundamentals like more trouble from the sovereign-debt department)…

If you are looking for a “discounted price” entry, that may be just around the corner in both Gold and Silver.