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?
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