SLV Shares Rise as Silver looks Good

Shares of iShares Silver Trust (SLV) rose sharply the last few days on news of a weakening dollar, and fed interest rate hikes that hope to stem off inflation.

SLV climber nearly 4 points as silver jumped nearly 30 cents a troy ounce today right in step with gold climbing to near $600 range again. The trust which opened several months ago buys silver kept in a vault and values it’s fund against the current and future prices of silver.

Silver looked to regain it’s $15 an ounce price of a month ago when shares of SLV topped $150 a share. With the Federal Reserve raising interest rates to curtail inflation more and more people are looking to investments like silver to keep their money safe from an unreadable economy. Stocks in general jumped on the news with the DOW rising more than 200 points Thursday.

Buying shares of SLV may be a bumpy ride in the short term but analysts believe that silver as well as gold will continue to rise as industrial and jewelry demands heighten over seas.