Investors Embrace Silver and the SLV

Gold is great, but so is silver, and the iShares Silver Trust (ETF) (NYSE:SLV) has hit yet another 52-week high today, touching $19.55 a share this morning. 

The rally continues to invest in silver as the SLV has surfed its way up 17% in 2010 thanks to silver breaking above the $19.00 per ounce barrier in August and is closing in on a $20.00 per ounce level that it has not seen since the spring of 2008. 

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The iShares Silver Trust (SLV) shares have traded between $14.37 and $19.55 over the past 12 months.  Today silver is down 3 cents, here's a chart on today's move:

Via SilverCoinsToday.com -- last week's other bullion quote comes from Edel Tully, UBS precious metals strategist.

"Much of silver's recent rally is due to expanding investor interest, as registered by rising CME volumes and options-related buying - but there's also been a notable increase in ETF buying," Tully said in a daily report on Thursday. "We are positive toward silver this year, and see potential for it to gain as the 'poor man's gold', a cheap alternative to the primary safe-haven asset," she added.

Fellow Masters, we have talked up gold a ton on this site, and from time to time we do mention silver, at this point in time, we prefer silver to played out gold.  Thus your weapon of choice to bank coin from silver is the SLV.