Excited Over Silver? Here’s What You Need To Know

Silver has really stolen the show in the precious metals space, but one veteran trader says it may be best for investors to just sit and wait.

Author:: Daniela Cambone
Publish date:: Jul 5, 2016 4:26 PM EDT

Silver (SLV) - Get Report has really stolen the show in the precious metals space, but one veteran trader says it may be best for investors to just sit and wait. 'Silver could push a little higher but I would be very hesitant to bring new money here,' Todd 'Bubba' Horwitz, chief investment strategist for BubbaTrading.com, told Kitco News coming back from the long weekend. 'You know I love silver but at this point, I think you're much better waiting.' Silver prices managed to spike to a two-year high over the weekend, hitting the $21.50 an ounce level, after slightly pulling back. September silver futures settled Tuesday up $0.319 at $19.907 an ounce. Meanwhile, gold (GLD) - Get Report continues to attract risk-averse investors, settling the day at $1,358.7 an ounce, up $19.70.

This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.