Equities, Commodities, and yes, even precious metals went through a beating these last few weeks and ETFs like NYSE:SLV was no exception. The silver ETF was down today on a day that the DOW droped 140 points, the S&P 15 and the NASDAQ 33. It was truly a tough day to be an investor today, even in the economic downturn safe precious metals like gold and silver.
These metals have usually been a safe haven for those looking to invest outside of the equities and exchange markets that have been on a roller coaster after breaking 10,000 on the DOW early this summer. No one can quite tell where the market will go and that even goes for these types investments.
Although we’re still bullish on silver and other precious metals (yes even gold which has been up way too much even for our taste), this pull back of the market could spell a september just like every other september lately. For those that don’t know, September has historically been a pullback month and a month of crashes (although I’m sure someone can dig up info contrary to that) it’s what we’ve observed lately. Maybe it’s a back to school pullback.
All those parents realize how much education costs and taking money out of equities seems like a good idea. Well if silver follows suit, you may find some buying opportunities in there.