Silver Hits 19-Month Slump
Published on July 11, 2012
In a release from the Paragon Report, as reported in the Wall Street Journal’s Market Watch column, silver prices hit a new 19-month low on Friday, June 22, 2012. The release indicated that the industrial and investment demand for precious metal has currently reached a lull.
The Paragon Report strives to release regular market updates on the silver industry so investors are able to stay ahead of the curve and maximize their returns on silver investments. Currently, the price per troy ounce for silver is $26.661, the lowest it has been since November 2010.
For interested silver investors out there, now is the time to capitalize on the low market prices for precious metals. An article in Economic Times states, “Over the past century, technological explosion has magnified the scale of its usage. Its demand is outpacing the supply and leading to large gaps.” Taking a cue from this observation, now more than ever is the time to invest in silver while its market prices are slumping—before it begins to rise again.
One way for individuals to invest in this and other precious metals is to do so using a self-directed IRA. This nontraditional retirement investment can provide an exciting return by the time your IRA matures and is ready for distribution. Many investors, especially those with a thorough understanding of silver and the precious metals market, find the self-directed IRA as a clever way to save for their futures.
For more information on self-directed IRAs, click here.
You can read the article from Market Watch here, and read the article from Economic Times here.Back to Blog