NEW YORK, NY -- (Marketwire) -- 11/22/10 -- Silver prices have been volatile in November. While the Fed's QE2 announcement sent silver prices to 30-year highs, concerns that China may increase interest rates have caused a recent pullback. Moreover, with European debt currently in crisis mode, the US Dollar has had a relatively strong November, once again hurting the precious metals market. The Bedford Report examines the outlook for the Silver Market and provides research reports on iShares Silver Trust (NYSE: SLV) and Hecla Mining Co. (NYSE: HL). Access to the full company reports can be found at:
Phillip Klapwijk, chairman of GFMS, told attendees of The Silver Institute that "China has moved to become a net importer of silver" in recent years. Higher interest rates in China could hurt silver demand as it increases the opportunity cost of holding the metal.
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Two of the most popular ways to invest in silver are through ETFs or investing in the silver miners. Silver ETFs represent an easy way for an investor to gain exposure to the silver price without having to store the actual bars of silver. Over the last month the SLV Silver ETF has risen over 17% while SPDR Gold Shares -- the world's largest Gold ETF -- has risen less than 2%.
The bulls who believe that silver prices will continue to surge may be inclined to look into silver miners. Investors in gold miners are banking on rising earnings, as gold prices rise, to provide value. Last month Hecla Mining posted third quarter EPS of six cents. The company generated $41.9 million in net cash from operating activities in the third quarter for a total of $115.3 million for the nine months period of 2010, up from $32.3 million and $51.9 million for the same periods in 2009.
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