Silver ETF on NYSE

On NYSE, there is the double silver ETF ProShares Ultra Silver (AGQ), with a reasonable trading volume. I'll keep an eye on it and may buy some, but not just yet. Let's see how the price moves after today's Doji.

Looking at silver

I'm looking at a chart of the silver ETF LSIL, traded in USD in London, and am tempted to draw a resistance line at USD 44.86, the low on 11 JAN 2011. I see a lot of speculation in this chart since January of this year and who knows, the speculative price rise may have started already in August 2010.

I think I should read up on the industrial use of silver and the supply and demand for it. Unlike gold, silver is not the common man's hedge against inflation. With a world-wide downturn of the economy, could the bullion price fall to below USD 10 again?

ZKB Gold ETF hedged (CHF)

I heard about a gold ETF of the Zurich Cantonal Bank (ZKB) hedging against the US dollar. I still have to look into it in detail but from a cursory look I learnt that I ought to buy it if I expect the USD to weaken some more against the CHF. This ETF is traded on the Swiss stock market (SIX) with the symbol ZGLDHC. Unfortunately I didn't know about it before the recent decline of the USD against CHF. I see that the same gold ETF is also available with hedges against the EUR and GBP. It is mentioned in this pamphlet of ZKB.