Silver prices are mirroring gold. Up, down, up and then back down. Staying within a range, silver seems to be mirroring the broader equity markets. Everything seems geared towards what’s the next shoe to drop. Will the equity markets continue their rally? Correction time? QE3? Lots of unanswered questions out there and it manifests itself in the precious metals in the lack of direction in price.

Silver prices are currently up 72 cents to $33 per ounce.

Silver Stocks to Watch

iShares Silver Trust (NYSEARCA:SLV) is up 2.14% this morning at $32.04. SLV has traded 3.1 million shares so far today and trades 19.8 million shares a day on average. SLV shares are up $1 in the past three days. [Read more...]

Silver prices are following gold’s lead today, up slightly on news out of the EU and Asia. Growth concerns there are giving rise to the likelihood of further easing policies out of the Fed.

The metal is also trying to avoid its 4th straight quarterly loss. Hampering the prices are the new import taxes instituted in India. This is stifling global demand and could keep silver prices in their current range. Short-term traders would probably be better off waiting for a clearer indication on QE3’s start (if it does) while long-term seem to be content to wait for the breakout due to their own economic thesis regarding fiat currencies. [Read more...]

After a dismal few weeks, silver prices finally received a needed boost in the form a Fed Chairman speech. The metal had been languishing in the high 20s due to positive economic outlooks and profit taking by short-term traders.

As of right now, spot silver is up 20 cents to just over $33 per ounce. With consumer confidence data on tap for today, the metal could be buoyed if consumers start to feel the pinch at the pump. This could slow economic growth and hasten the return of QE and other monetary easing policies. [Read more...]