My Favorite Silver Investment Right Now
Until a few days ago, silver had been the hottest trade of the year. Its price spiked from about $70 an ounce at the start of the year to over $110 an ounce at its peak. People have been piling into precious metals due to concerns about inflation and government policy. However, with President Trump picking Kevin Warsh as the next Fed Chair (who appears less supportive of lower interest rates than other potential candidates), silver has lost some of its luster, tumbling into the low-$80s. That's still well above its year-ago level in the low-$30s.
Higher silver prices are a boon for silver mining stocks. However, one company stands out for its ability to cash in on silver due to its rock-bottom costs: Wheaton Precious Metals (NYSE: WPM). Here's why it's my favorite silver investment right now.
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Source Fool.com
