Reply #10: Silver Reaches 22-Year High as Investors Bet on Precious Metals

[ozymandius]

March 30 (Bloomberg) -- Silver futures rose to their highest in 22 years, trading above $11 an ounce, as investors bet precious metals will outperform stocks and bonds.

Silver has gained 15 percent this month in anticipation of U.S. government approval for Barclay Capitals' exchange-traded fund linked to the price of the precious metal. The fund makes it easier to own the metal and a similar gold fund helped send prices to a 25-year high last month.

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Silver may climb another $4 or $5 should the Securities and Exchange Commission approve Barclay's request to list shares on the American Stock Exchange, Paul Walker, chief executive officer of London-based metals researcher GFMS Ltd., said yesterday. Amex got approval on March 21 from the SEC to list the shares. The Barclays petition is still pending.

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http://quote.bloomberg.com/apps/news?pid=10000006&sid=ab4XrRS__HQw&refer=home