Silver Miners Offer Outsized Income Potential
Over the weekend, I attended a friend’s wedding in Annapolis, Maryland.
It was a beautiful affair held at the Philip Merrill Environmental Center overlooking the picturesque Chesapeake Bay. The rain held off just enough, and while a bit chilly, the sun finally broke through and the bald eagles were soaring overhead.
It was a wonderful ceremony.
And speaking with the bride and groom at the reception, they were quite pleased with the fact they received a great deal on their gold wedding bands.
Of course as a hard asset expert, this was right up my alley. I remarked that gold prices are indeed down almost 6% from the recent high. This makes for an attractive bargain for gold investors and ring-buying newlyweds alike.
What I didn’t tell them, though, was there’s an even better bargain on the precious metals clearance table right now.
That’s gold’s working-class cousin: silver!
Conditions Are Ripe for a Breakout
Today, I want to zero in on the technical picture and bullish upside breakout for a key index:
Take a look at the Global X Silver Miners ETF (NYSE: SIL) chart.
As you can see in the chart above, SIL tracks an index of silver mining stocks and other silver-related assets. After a long consolidation since August this ETF appears ripe for a breakout.
This is a critical bullish sign because the last time the precious metals sector launched a major upside breakout in 2015–16, it was silver miners that led the way higher!
And history looks like it is about to repeat right now!
That’s why it makes sense to consider SIL today. And here are some more details on this leading ETF (exchange-traded fund).
SIL is a good option to specifically target a good mix of silver mining stocks and other silver-related assets.
And it provides direct exposure to some of the strongest companies in the silver mining exploration and production sector.
Here’s to growing your wealth,