Gold & Silver Hold the Line

posted by Nima

May 12, 2009 · Posted in Business 

Gold has made it back into the safe 900s and Silver is attempting another run toward $15.

The HUI index which monitors gold mining companies has now hit a 7 month high:

hui-as-of-may-12-20091
Click on image to enlarge.

To look at an example of how well silver mining stocks have done since silver bottomed out, please see below the chart of Silver Wheaton Corp (SLW), a Canadian silver miner:

slw-as-of-may-12-2009
Click on image to enlarge

The stock has tripled over the past 5 months.

The relatively low trading volume coupled with good performance is a likely indicator for smart money buying in.

I still like silver here and I still like gold here…

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