TSXV:SLX.P - Post by User
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sunwoodon Feb 16, 2011 9:52am
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Silver Attracting Momentum Traders - RBC
Silver Attracting Momentum Traders - RBC
Market Nuggets: Silver Attracting Momentum Traders – RBC
16 February 2011, 09:42 a.m.
By Kitco News
https://www.kitco.com/
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(Kitco News) -- Silver is weaker on profit-taking Wednesday, but the gray metal is getting interest from momentum traders, says George Gero, vice-president ,global futures, RBC Capital Markets, precious metals strategist. He says open interest in the February futures contract has rise to 145,000 from 125,000 contracts and 18 metric tons have been added to ETFs. Backwardation in the Dec 2011 to Dec 2012 contracts, long-term spreads and stockpiling by corporations have added to recent buying.
By Debbie Carlson of Kitco News; dcarlson@kitco.com
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