An analysis of precious metals and commodities funds indicates that silver could well be the new gold for investors seeking to hedge against inflation.
Canada-based Nautilus Minerals Inc. (TSX&LON:NUS) sank to fresh lows Wednesday in London, falling almost 5%, hit by the news of a Papua New Guinea’s landowners petition to the Government to cancel the firm’s seabed mining permit.
Gold fell to a six-week low in Tuesday trading, stopping just short of the $1,700 an ounce threshold as investors become increasingly concerned about the state of the global economy.
Storied investor and financial author Stephen Leeb alleges that major hedge funds have engaged in concerted efforts to manipulate precious metals markets.
Renowned commodities expert James Turk says a new chart indicates that despite golds recent moments of weakness the precious metal is on track for an "exponential upward trend."