You may be concerned about the drop in its spot price from U$4.20/lb or so to the current U$4.00/lb or so, but this desk has been impressed by the relative strength in copper recently. Basically UNCH in a macro backdrop of rising recession fears and the flight to US Bonds pimping the USD and here’s the chart to prove it:
Since when has copper been an asset class? Stronger than gold, more popular as a hedge against the USD, and do we even have to mention silver?
Mark, is there any silver producer that you think is worth to hold if silver takes aim at higher levels?
Re producers there’s a case to be made for both Silvercrest and MAG Silver, but they’re not cheap. In general terms and in my opinion, gold producers are more attractive. FWIW I currently own one silver name, though it’s not a producer. Underwater but holding, it’s worth the wait.
Thanks, I’ll have a look at Silvercrest and MAG.