NY silver sprints to 22-year high on ETF ruling
NEW YORK, March 21 (Reuters) - U.S. benchmark silver futures shot to a 22-year high on speculative buying on Tuesday after the U.S. Securities and Exchange Commission approved rule changes for a silver exchange-traded fund.
Silver for May delivery <SIK6> at the COMEX division of the New York Mercantile Exchange had surged $10.55 an ounce, up 16.8 cents -- the priciest for futures since late 1983 -- by 12:13 p.m. EST.
The SEC said it has approved rule changes that will allow the American Stock Exchange to list shares in Barclays Plc's (BARC.L: Quote, Profile, Research) iShares Silver Trust, which is designed to track the price of the metal.
This is the news us Silver Investors have been waiting for!
I posted a chart comparing the price of gold to silver a few days ago. Well here is the price of silver compared to the price of gold:
We have been bang on investing in Silver instead of Gold!
Silvercorp is up again today as well....
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