Silver has fallen sharply from its all-time high of $48.70 U.S. an ounce, where it closed on April 28, 2011. Silver now trades at $36.80 U.S. an ounce. That’s up 106.2% from $17.87 U.S. an ounce a year ago.
Silver could well regain its high and move up even further over the longer term, although it will likely remain volatile. Higher prices would arise from investor fears that inflation or global political and economic uncertainty will weaken key currencies, such as the U.S. dollar.
Use caution when investing in silver
Silver prices tend to rise along with gold prices. That’s because when gold prices soar, as they have lately, investors see silver as less of an industrial commodity and more as a precious metal. Sometimes known as “poor man’s gold,” silver attracts a lot of interest as gold prices reach levels that seem too expensive for the average investor.
Conservative investors should limit their total silver investments, as they would with any volatile commodity investment. Further, silver should only make up a portion of the resources segment of your portfolio.
Look to exchange-traded funds (ETFs) for convenient, low-cost silver investing
If you want to invest in silver, we think the best way to do it is through silver-mining stocks. We recommend staying away from silver bullion, certificates representing an interest in bullion, and other silver bullion alternatives, such as so-called “junk silver” coins (these are common coins with no numismatic value that trade strictly on their silver content).
Commodity investments like these do not generate income. Instead, they come with a continuing cash drain for management, insurance and so on.
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You can hold silver stocks directly, through mutual funds, or through exchange traded funds like Global X Silver Miners ETF (symbol SIL on New York). We analyzed this ETF in a recent issue of our Canadian Wealth Advisor newsletter.
This exchange traded fund’s holdings include leading silver miners
Global X Silver Miners ETF tracks the Solactive Global Silver Miners Index, which includes between 20 and 40 international companies that mine, refine or explore for silver.
Global X Silver Miners ETF began trading on April 19, 2010.
Canadian-based companies make up 58.7% Global X Silver Miners ETF’s holdings, but it also includes companies based in the U.S. (11.3%) and Mexico (11.1%). The exchange traded fund’s MER is 0.65%.
The exchange traded fund’s top-ten holdings are Silver Wheaton at 12.7%; Industrias Penoles, 11.1%; Fresnillo plc, 10.4%; Pan American Silver, 9.8%; First Majestic Silver, 9.8%; Coeur d’Alene Mines, 5.6%; Silvercorp Minerals, 5.2%; Hochschild Mining plc, 4.5%; Hecla Mining, 4.4%; and Silver Standard Resources, 4.3%.
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