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Hedge Funds Boost Bullish Silver Bets as Mideast Tensions Mount
Feb. 22, 2011 12:00PM PST
Silver InvestingBloomberg reports that silver rose to a 30-year high as hedge funds boosted bullish bets on the metal as tensions mount in the Middle East.
Bloomberg reports that silver rose to a 30-year high as hedge funds boosted bullish bets on the metal as tensions mount in the Middle East.
The market news is quoted as saying:
Silver futures rallied 7.7 percent last week, the most since early December, as Egypt’s pro-democracy demonstrations spread to Bahrain, Yemen, Libya and Iran. Prices have doubled in the past year and touched $32.87 an ounce in New York on Feb. 18, the highest since March 1980.