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Silver’s role as precious metal really came to the forefront this year, but its industrial role will be what carries gains in 2010. Silver is a part of the “reflation” or recovery trade, says Michael Lewis, commodities analyst at Deutsche Bank AG. On Monday, silver and gold got a pick-me-up as the markets let …
Silver’s role as precious metal really came to the forefront this year, but its industrial role will be what carries gains in 2010. Silver is a part of the “reflation” or recovery trade, says Michael Lewis, commodities analyst at Deutsche Bank AG.
On Monday, silver and gold got a pick-me-up as the markets let out a sigh of relief on reports that Abu Dhabi is bailing out debt-soaked Dubai to the tune of $10 billion. The news also forced the dollar down against the euro and the yen. Gold managed to close up at $1127.40 and silver also posted gains to finish at $17.42 an ounce.
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