Seeking Alpha

On the proverbial yo-yo string today, silver pops back up on news a strike at Bolivia's San...

On the proverbial yo-yo string today, silver pops back up on news a strike at Bolivia's San Cristobal mine has paralyzed production and exports. The mine is the world's 3rd largest producer of silver. Silver ETF: SLV +1.0%, Silver miners ETF SIL +1.2%.
Comments (1)
  • David White
    , contributor
    Comments (3977) | Send Message
     
    Silver probably has some more near term down side. Yesterday it popped up due to Peru (#1 silver producer). The leftist presidential candidate was shown to be doing better in the polls. If elected, the leftist candidate may nationalize all mines. This worries the market. However, it is unclear that it would have a significant effect on the amount of silver produced (or the price of silver). The scare may have been over done.
    30 Mar 2011, 12:49 PM Reply Like
DJIA (DIA) S&P 500 (SPY)