It’s a tough time to be a silver bug. On Monday, the white metal fell as low as $17.30 — that’s its worst price since June 2010. There’s no sugarcoating the fact that the numbers look bad. However, Todd Horwitz, author and founder at Average Joe Options, believes silver’s drop is good news for investors.
“At some point those things are going to change.” And, he said, if they change quickly, “silver’s got a chance to go to $20, maybe $25, which could be a very, very big, positive trade.” His advice to investors is thus to buy at the current $17.50 level.
All that is to say that while silver may be down, it’s certainly not out. And for investors still willing to take a chance on the metal, now may be the time to jump in.
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