Investing in Silver as Gold Rises

Buying silver, as we said last month, for 2010 may be one of the smartest bets you can make with your money. And as we wrote that, silver was around $17 an ounce. Now, just days into 2010, it’s already creeping back towards it’s 52 week high.

$19 is near for the price of silver and if you want to buy silver, now may be the time to do so. With the jobs market still shaky and earnings reports for a flurry of companies on the S&P 500 due out in the next month, you may want to put a little bit in silver to keep your rear end covered.

Gold, although still rising amid recent selloffs, is high priced and difficult for some to get into. Well, silver tends to follow the trend of gold and you may want to ride the wave. Just look at the chart below at how closely silver follow gold. This is a 1 year comparison chart of the price of ETFs, GLD and SLV.

If you think gold is going to rise, you may just want to buy into silver and watch that price follow all the way up.