Silver Set to Enter Bull Market

Bloomberg reported that 2015 has brought silver’s best start to a year since 1983, also noting that the white metal looks set to enter a bull market.

As quoted in the market news:

‘Silver is enjoying safe-have bids along with gold, and there is also a lot of physical buying’ Frank McGhee, the head dealer at Alliance Financial LLC in Chicago, said in a telephone interview. ‘There is a flight to safety because of all the concerns about the economy.’

Silver for immediate delivery climbed 0.,9 percent to $18.2915 an ounce at 11 a.m. New York time, according to Bloomberg generic pricing. A settlement at $18.4064 would leave the metal up 20 percent from the closing low of $15.3387 in November, meeting the common definition of a bull market. This month, the price has jumped 17 percent, the biggest gain to start a year since 1983.

Click here to read the full Bloomberg report.