Will the Price of Silver Hit $16?

The price of silver saw $16 in mid 2007 but since has hovered around the $13 and $14 range. Until this past week, when it shot over $15 and began flirting with $16.

The US economy is down and for the most part investors are looking for other places to put their dollars. The fed is claiming to be looking at a half point reduction at the end of the month meeting which is sending a lot of investors into turmoil.

That’s a definite sign of a bad economy with a poor outlook.

For precious metals investors it’s a different story. Those of you who have been quietly buying stock piles of gold, silver, platinum and the like have seen your portfolios doing well. Even if you own mining stocks, or ETF’s like SLV, you’re doing well too.

As the year unfolds, taking your money out of those investments tied to the weakening dollar may be a good choice.