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<ul class="summary-list"><li><keyword id="35264" type="COMPANY" weightage="60" keywordseo="silver">Silver</keyword> miners First Majestic Silver, Pan American Silver, <keyword id="4876952" type="PERSON" weightage="60" keywordseo="wheaton-precious-metals">Wheaton Precious Metals</keyword>, and more are all rising on Monday.</li><li>The Silver spot price jumped 11% Monday morning before paring gains. </li><li><keyword id="119992" type="ORGANIZATION" weightage="60" keywordseo="precious-metals">Precious metals</keyword> broker <keyword id="10689300" type="UNKNOWN" weightage="60" keywordseo="apmex">APMEX</keyword> said it received 12 times the normal demand for silver last weekend.</li></ul><p>Shares of silver miners climbed on Monday as the spot <a href="https://markets.businessinsider.com/commodities/silver-price?utm_source=markets&amp;utm_medium=ingestgest">silver price</a> jumped 11% to an eight-year high before paring gains.</p><p>Silver has seen a sharp rise in prices as Reddit traders on the <a href="https://www.businessinsider.com/wallstreetbets-fastest-growing-subreddit-hits-58-million-users-2021-1?utm_source=markets&amp;utm_medium=ingestgest">WallStreetBets</a> forum pile into the precious metal.</p><p>After being restricted from trading certain popular stocks by brokerages, some members of the forum have turned to silver as their <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">next potential short-squeeze</a>. The sudden interest in the metal caused prices to skyrocket, and as silver goes, so do its miners.</p><p>Shares of First Majestic Silver, Pan American Silver, and Wheaton Precious metals are up 23%, 16%, and 6%, respectively, as of 10:21 AM EST. BlackRock's <a href="https://markets.businessinsider.com/etfs/ishares-silver-trust-us46428q1094?utm_source=markets&amp;utm_medium=ingestgest">iShares Silver Trust</a> was also up 9.48% in pre-market trading before retracing some gains.</p><p><strong><em>Read More: </em></strong><em><a href="https://www.businessinsider.com/option-investing-strategies-downside-protection-ubs-reddit-stock-frenzy-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">As Redditors flood the stock market, UBS breaks down 6 options strategies investors can use right now to protect their portfolios</a>.</em></p><p>The news of silver jumping had some members of the WallStreetBets forum celebrating, while others said the move was benefitting too many institutional names.</p><p>In particular, the forum isn't too pleased with Kenneth Griffin's Citadel after the firm injected cash into Melvin Capital, a hedge fund that <a href="https://markets.businessinsider.com/news/stocks/melvin-capital-lost-53-percent-january-after-gamestop-shares-skyrocketed-2021-1-1030023191">lost about 53%</a> of its value after a short-squeeze on shares of GameStop hurt results.</p><p>"CITADEL IS THE 5TH LARGEST OWNER OF SLV. IT'S IMPERATIVE WE DO NOT 'SQUEEZE' IT." one WallStreetBets <a href="https://www.reddit.com/r/wallstreetbets/comments/l9gv98/citadel_is_the_5th_largest_owner_of_slv_its/?utm_source=share&amp;utm_medium=ios_app&amp;utm_name=iossmfe=iossmf">user</a> wrote on Sunday.</p><p>Citadel Advisors LLC owned about 6 million shares of the <a href="https://www.bloomberg.com/quote/SLV:US">iShares Silver Trust</a> as of Sept. 30, equivalent to a 0.93% stake, <a href="https://www.bloomberg.com/news/articles/2021-02-01/citadel-s-silver-bet-exposes-rifts-in-the-wallstreetbets-army">per Bloomberg</a>.</p><p>Even if Reddit does target silver, it's not clear the online community can have the same effect on precious metals as it did with individual stocks.</p><p>"It's a very different target, but the fact that you can move silver, such a large market, is an indication to everybody that they have to take these new technicals seriously," said <keyword id="192956" type="PERSON" weightage="60" keywordseo="Mohamed-El-Erian">Mohamed El-Erian</keyword>, Allianz chief economic advisor on CNBC's "<a href="https://www.cnbc.com/squawk-box-us/">Squawk Box</a>."</p><p><strong><em>Read More: </em></strong><em><a href="https://www.businessinsider.com/stock-market-short-squeeze-reddit-day-trading-advice-ally-invest-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">A chief investment strategist breaks down how the GameStop saga could upend long-standing practices on Wall Street - and shares her 4-part advice for navigating the frenzied trading environment</a>.</em></p><p>The recent Reddit push isn't the only bullish news for miners, however. Dennis Karp, CEO of silver miner Manuka Resources, said he sees solid fundamentals, EV use cases, and rising inflation expectations helping silver move higher.</p><p>"Investor demand last year was three times the value of previous years, and the last five years of mined silver production have all been lower than the previous years," Karp said. "Its use in EVs is substantial, and in photovoltaics, 20 grams of silver goes into each solar panel."</p><p>It's unclear whether Reddit traders can drive a sustained rally in silver prices, but for now, they are clearly moving demand. Precious metals broker APMEX said demand for silver was 12 times higher than normal over the weekend.</p><p>The demand increase has led silver miners on historic runs over the past five days.  Shares of the Vancouver-based First Majestic jumped over 60% during the period, while shares of Pan American Silver are up 34% and shares of Wheaton Precious Metals are up over 16%.</p>

Silver miners soar as Reddit traders pile into the precious metal

<ul class="summary-list"><li><keyword id="35264" type="COMPANY" weightage="60" keywordseo="silver">Silver</keyword> jumped as much as 13% on Monday as amateur investors piled in, before slipping back slightly.</li><li>The so-called silver squeeze follows the Reddit-driven surge in <keyword id="363661" type="COMPANY" weightage="60" keywordseo="GameStop">GameStop</keyword> shares last week.</li><li>But the rally sparked controversy on <keyword id="334157" type="COMPANY" weightage="60" keywordseo="Reddit">Reddit</keyword>, with users saying GameStop should remain the target.</li></ul><p>The <a href="https://markets.businessinsider.com/commodities/silver-price">price of silver</a> on Monday jumped as much as 13%, to $30.35 per ounce, hitting an 8-year high. The surge pushed up shares of silver-mining companies and causing retail sites to limit trading amid the latest attempt of amateur investors to squeeze Wall Street.</p><p>Silver pared gains to trade 8% higher, at $29.01 per ounce, as of 11:45 a.m. ET in New York.</p><p>But the so-called silver squeeze proved controversial on the Reddit forum<a href="https://www.businessinsider.com/wallstreetbets-fastest-growing-subreddit-hits-58-million-users-2021-1"> Wall Street Bets.</a> Many users argued that the army of day traders should keep targeting<a href="https://markets.businessinsider.com/stocks/gme-stock"> GameStop shares</a> and not shift their sights elsewhere.</p><p>Last week, traders organizing themselves on Reddit<a href="https://www.businessinsider.com/how-wall-street-bets-subreddit-chose-gamestop-stock-2021-1"> realized their power</a> when they bid up GameStop shares by around 400%. The surge hit hedge funds and others who had been betting the price would fall, costing them more than<a href="https://www.businessinsider.com/short-sellers-sitting-on-19-billion-of-losses-on-gamestop-data-shows-2021-1"> $19 billion.</a></p><p>On Monday morning, the pivot towards other targets picked up speed, with the hashtag #silversqueeze trending on Twitter. Online financial personalities were cheering on day traders, with bitcoin investor<a href="https://twitter.com/cameron/status/1355927997916839946?s=20"> Cameron Winklevoss tweeting</a>: "If Silver market is proven to be fraudulent, you better believe Gold market will be next."</p><p>The <keyword id="432846" type="PERSON" weightage="60" keywordseo="silver-price">silver price</keyword> has risen around 16% over the last five days as Wall Street Bets members have encouraged each other to buy up the metal in the belief that major financial institutions are betting against it.</p><p><strong><em>Read more:</em></strong><a href="https://www.businessinsider.com/stocks-to-buy-silver-short-squeeze-stock-picks-rbc-2021-2"> <em>Buy these 4 stocks poised benefit from a spike in silver prices, says RBC Capital Markets - including two set to soar 73%</em></a></p><p>However, the latest<a href="https://www.cftc.gov/dea/futures/deacmxsf.htm"> data from the US regulator</a> showed money managers are on balance betting the price will rise.</p><p>BlackRock's<a href="https://markets.businessinsider.com/etfs/ishares-silver-trust-us46428q1094"> iShares Silver Trust</a> surged as much as 12% on Monday as retail investors piled into exchange-traded funds, which give them access to silver. iShares Silver, the world's biggest silver ETF, saw inflows of close to $1 billion on Friday.</p><p>Shares in companies in the industry jumped. Pan American Silver Corporation's shares rose 12.3% while miner Fresnillo's London shares climbed 9.8%.</p><p>Silver retail sites were left struggling to keep up with the demand. Money Metals said it would be limiting silver orders due to "extreme demand". APMEX said it was expecting processing delays of up to three days.</p><p>The move into silver was controversial on the Reddit forum Wall Street Bets, which has <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">driven the GameStop frenzy.</a> Some users noted that huge investment banks, and the hedge fund Citadel Advisors, were the biggest holders of the iShares Silver ETF.</p><p><strong><em>Read more:</em></strong><a href="https://www.businessinsider.com/stock-picks-to-buy-heavily-shorted-companies-overweights-wells-fargo-2021-1"> <em>Buy these 26 heavily shorted stocks as retail traders trigger wild rallies in Wall Street's least-liked names, Wells Fargo says</em></a></p><p>"By buying silver/going long on silver, you would be directly putting money into the pockets of the EXACT HEDGE FUNDS ON THE OTHER SIDE OF $GME," one user posted. Others said the Reddit army should focus their efforts on driving up the <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop share price</a>, which was down around 25% by mid-morning.</p><p>Adrian Ash, director of research at precious-metals platform BullionVault, told Insider: "The sudden inflow of money driving this spike will also need to be sustained and repeated if silver is going to run higher.</p><p>"The basis for Reddit's 'silver squeeze' is flimsy at best. Speculative short-selling in silver has been very tame in New Year 2021, and the commercial side of the industry will only grow its price-hedging the higher it goes. So there just isn't the structural opportunity which a heavily shorted small company might offer."</p>

Silver spikes 13% to 8-year high as Reddit day traders turn their buying power towards a fresh target

<ul class="summary-list"><li>You can buy <keyword id="35264" type="COMPANY" weightage="60" keywordseo="silver">silver</keyword> in two basic ways: physical bullion (bars, coins) or silver-backed securities (stocks, funds, <keyword id="10018057" type="UNKNOWN" weightage="60" keywordseo="etns">ETNs</keyword>).</li><li>While bullion is a "purer," more direct way to own silver, securities are easier to hold and can appreciate.</li><li>Silver offers a long-term hedge against inflation and stocks, but also benefits from certain industries' growth.</li></ul><p>Savvy investors often step outside the comfort zone of conventional paper investments - stocks, bonds, and funds - and into more exotic, hard assets. Silver is one such. Like other <a href="https://www.businessinsider.com/what-are-alternative-investments" target="_blank" rel="noopener">alternative investments</a>, it often performs in an opposite way to traditional securities: its price rising when theirs falls, and vice versa. So it can be an invaluable way to <a href="https://www.businessinsider.com/what-is-diversification" target="_blank" rel="noopener">diversify</a> a portfolio.</p><p>Silver is more than a stock market hedge, though. As a physical commodity, it has an intrinsic value, which means it's immune to inflation - the rise in prices that erodes the value of paper, government-issued currencies. Given its inherent worth, some investors also see it as a safe haven against political and economic turmoil, similar to its more glamorous cousin, <a href="https://www.businessinsider.com/how-to-buy-gold" target="_blank" rel="noopener">gold</a>. </p><p>But silver is much more affordable than its yellow-metal cousin. Also, unlike <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword>, silver is valued for its widespread <a href="https://markets.businessinsider.com/news/stocks/metal-commodity-price-outlook-silver-platinum-outperform-gold-ubs-precious-2021-1-1029961646" target="_blank" rel="noopener">industrial uses</a> - including innovative, high-growth tech industries like solar energy and electric autos. </p><p>All these factors have precious metal experts like <a href="https://www.linkedin.com/in/giancarlo-camerana-958517a/?originalSubdomain=ch" target="_blank" rel="noopener">Giancarlo Camerana</a>, a strategic advisor at <a href="https://qore.gold/" target="_blank" rel="noopener">QORE Switzerland</a> feeling optimistic about the performance of silver in the coming decade. What it comes down to, he says, is "a combination of bullish factors: increased demand from both the industrial sector and financial investors as they worry of the ongoing currency debasement and the possible dollar devaluation."</p><p>How <em>do</em> you invest in silver, anyway? Here's what interested investors should know.</p><h2>How to invest in silver</h2><p>There are a variety of ways to invest in silver. But for individual investors, the buying options boil down to two basic forms:</p><ul><li>Physical silver, or bullion (the most direct and obvious way to invest) </li><li>Silver securities, such as stocks, funds, and exchange-traded notes (less of a pure play, but more convenient)</li></ul><h2>Physical silver</h2><p>The physical metal is known as bullion. Investment-grade bullion typically refers to silver that's 99.9% pure. It comes in the following forms:</p><ul><li><strong>Bars </strong>- Bars consist of solid silver weighed by the troy ounce that's been poured or pressed into stamped blocks. They're available for purchase from reputable metals dealers like If you're starting here, aim for smaller ounce-counts, as they'll be easier to sell off if need be.</li><li><strong>Coins and rounds </strong>- forget about rare or collectible coins here, which have numismatic value beyond their silver content. We're talking solely about specie issued by government mints for investment purposes <em>only. </em>Some of the most <a href="https://www.gainesvillecoins.com/blog/what-is-silver-bullion">popular coins</a> include the Silver American Eagle, the Silver Canadian Maple Leaf, and the Austrian Silver Philharmonic. Rounds, as their name implies, are the same shape as coins, but not official legal tender.</li><li><a href="https://www.texmetals.com/products/silver-coins/junk-silver-bags" target="_blank" rel="noopener">Junk silver bags</a> - These are bags of dimes, quarters, and half-dollars issued by the United States Mint prior to 1965, at which point it switched from using silver in its coinage to other alloys. Anything minted before that time could be upwards of 90% silver, so while it has no collectible value (thus the term "junk"), it does have a value based on its purity.</li></ul><p>Bullion in its various forms is generally available from precious metals dealers. Be sure to look for a well-established one: <a href="https://www.jmbullion.com/silver/silver-bars/" target="_blank" rel="noopener">JM Bullion</a>, <a href="https://www.apmex.com/category/25800/junk-silver-coins-35-40-90-silver/all?vt=g&amp;utm_medium=cpc&amp;utm_campaign=&amp;utm_source=&amp;gclid=Cj0KCQiAgomBBhDXARIsAFNyUqMkdx1FMwzituxwDc3kxoWMi04ZLEh1BhNZaR3lEsDP37GFgY3zO7EaAlbbEALw_wcBO7EaAlbbEALw_wcB" target="_blank" rel="noopener">APMEX</a>, and <a href="https://sdbullion.com/" target="_blank" rel="noopener">SD Bullion</a> are among the most reputable. Many banks also sell silver bullion. </p><h2>Silver stocks</h2><p>You can invest in individual stocks that give you exposure to the silver industry. There are two major types of silver companies:</p><ul><li><strong>Silver mining stocks</strong><em> - </em>Also called "<a href="https://markets.businessinsider.com/news/stocks/silver-miners-stocks-reddit-first-majestic-wheaton-precious-pan-american-2021-2-1030028701" target="_blank" rel="noopener">silver miners</a>", these are stocks that invest in every stage of silver production, from exploration to refining. So when production is soaring, so are the prospects for these companies - and vice versa, of course. For silver stocks, Camerana recommends Pan American Silver (<a href="https://markets.businessinsider.com/stocks/paas-stock" target="_blank" rel="noopener">PAAS</a>) and Fresnillo (<a href="https://markets.businessinsider.com/commodities/news/fresnillo-shares-drop-on-lower-gold-output-forecast-9741958" target="_blank" rel="noopener">FRES:LSE</a>) , the world's largest silver mining company, which is listed in London. Other major players include Endeavor Silver Corp. (<a href="https://markets.businessinsider.com/stocks/exk-stock" target="_blank" rel="noopener">EXK</a>) and Fortuna Silver Mines (<a href="https://markets.businessinsider.com/stocks/fsm-stock" target="_blank" rel="noopener">FSM</a>).</li></ul><ul><li><strong>Silver streaming company stocks</strong> - Instead of digging themselves, some companies make an agreement to <a href="https://www.wheatonpm.com/streams/default.aspx"><em>finance</em> a mining project</a> in exchange for a portion of future profits, which are then meted out to shareholders. <a href="https://markets.businessinsider.com/news/stocks/first-majestic-acquires-silver-stream-on-first-mining-s-springpole-project-1029300031">First Majestic Silver Corp</a>. (<a href="https://markets.businessinsider.com/stocks/ag-stock">AG</a>) is one of the largest streaming companies.</li></ul><p>You can buy silver stocks as you would shares of any company, via a brokerage, investment app, or online trading platform. </p><h2>Silver ETFs and Mutual Funds</h2><p>Instead of relying on a single stock, you can also invest in an exchange-traded fund (<a href="https://www.businessinsider.com/personal-finance/what-is-an-etf-exchange-traded-fund">ETF</a>) or mutual fund that bundles together multiple silver-related assets. Some contain shares of silver company stocks, while others invest in the metal itself or in futures contracts.</p><p>ETFs and mutual funds are purchased through brokers or trading apps, or through the investment companies that sponsor them.</p><h2>Leading silver ETFs and what they invest in</h2><ul><li> iShares Silver Trust (<a href="https://markets.businessinsider.com/etfs/ishares-silver-trust-us46428q1094">SLV</a>) (physical silver)</li><li>Global X Silver Miners (<a href="https://markets.businessinsider.com/etfs/global-x-silver-miners-etf-us37954y8488">SIL</a>) (silver stocks)</li><li>Aberdeen Standard Physical Silver Shares ETF (<a href="https://markets.businessinsider.com/etfs/aberdeen-standard-physical-silver-shares-etf-us0032641088">SIVR</a>) (physical silver)</li><li>iShares MSCI Global Silver Miners ETF (<a href="https://markets.businessinsider.com/etfs/ishares-msci-global-silver-and-metals-miners-etf-us4642863272">SLVP</a>) (silver stocks)</li><li>Invesco DB Precious Metals Fund (<a href="https://markets.businessinsider.com/etfs/invesco-db-precious-metals-fund-us46140h5028">DBP</a>) (silver and gold futures)</li></ul><h2>Silver exchange-traded notes (ETNs)</h2><p>Among the most complex of the silver-centric investment options are exchange-traded notes (<a href="https://www.businessinsider.com/what-is-an-etn" target="_blank" rel="noopener">ETNs</a>) and exchange-traded <keyword id="35149" type="PERSON" weightage="60" keywordseo="commodities">commodities</keyword> (ETCs). They track an underlying asset (in this case the price of silver), like the funds, but the major difference is that ETNs and ETCs are actually debt instruments.</p><p>A silver ETN operates like a mix between a stock and a bond; when you own it, you own a debt rather than anything physical, which tempers your risk. When the note matures, you get a lump sum tied directly to the price of silver - if it's risen during your possession of the note, you'll see that as a return. </p><p>The silver ETC is similar, except that it actually holds physical silver as collateral, while the ETN just tracks silver's price moves.</p><p>Some investors prefer ETNs to ETFs. Both track an index, but ETFs respond more to market investor demand than they do the actual price of the asset. so sometimes ETF investors miss out on gains because the fund fails to accurately move with the underlying commodity - what's called a tracking error. With ETNs, the value is based directly (and solely) off the market price, so tracking errors are vastly reduced. </p><p>Among ETNs, the VelocityShares 3x Long Silver ETN (<a href="https://markets.businessinsider.com/etfs/velocityshares-3x-long-silver-etn-linked-to-the-sp-gsci-silver-index-er-us22542d2909" target="_blank" rel="noopener">USLV</a>) is one of the best-known. Others include the iPath Silver ETN (<a href="https://www.ipathetn.com/US/16/en/details.app?instrumentId=371397" target="_blank" rel="noopener">SBUG</a>) and the X-Links Silver Shares Covered Call ETN (<a href="https://markets.businessinsider.com/etfs/credit-suisse-x-links-silver-shares-covered-call-etn-us22542d4491" target="_blank" rel="noopener">SVLO</a>).</p><h2>What's the best way to invest in silver?</h2><p>Each silver investment method comes with its own advantages and risks.</p><p>Investing in bullion is traditionally vaunted as the purest form of investment: You own the actual metal, and it can be bought and sold for an amount equivalent to silver's market or <a href="https://markets.businessinsider.com/commodities/silver-price" target="_blank" rel="noopener">spot price </a>per ounce (plus a small mark-up - usually more for coins than bars). But storage and insurance costs mount quickly. </p><p>And bullion provides no interest or dividends. You can't appreciate any gains on your coins or bars until you actually sell them - hopefully for a higher price. Even then, there are transport costs and other fees to eat into returns. </p><p>Silver stocks, funds, and ETNs, on the other hand, add some sterling diversification to your portfolio without making you shell out for storage space. They're more liquid, trading daily as they do. And of course, there's the convenience of buying and keeping them in a regular investment account. "Paper silver," as Camerana calls these securities, are "an easy and often less-expensive way to get exposure" - especially if you opt for a silver ETF or mutual fund.</p><p>But they're an indirect investment. Just as with any company, a silver company's operating costs, reserves, and management all play a factor in its performance; so can the political and economic conditions in its native country. As a result, silver stocks can be volatile, exaggerating the already sharp price swings silver is prone to. </p><p>Even miners aren't always quite as pure a silver play as one might hope, as silver is often mined alongside or extracted from other metals. </p><h2>The financial takeaway</h2><p>What form of silver to invest in depends on your own desire for convenience and appreciation, and your risk tolerance. Owning silver bullion is the most direct, purest play. But owning silver-based securities is more economical and offers a chance at appreciation.</p><p>While it certainly <em>looks</em> like a promising moment for silver, with its industrial uses predicted to expand in the next decade, there are no guarantees. Silver is vulnerable to recession in ways that gold is not. If the tech industry begins to lag, silver prices will fall, which will hit you in your pocketbook whether you're invested in the physical metal, a silver streaming company stock, or anything in between.</p><p>Still, silver as a sliver of your portfolio makes sense anytime - as a diversifier, if nothing else. </p><h2>Related Coverage in <a href="https://www.businessinsider.com/investing-reference" target="_blank" rel="noopener">Investing:</a></h2><h3><a href="https://www.businessinsider.com/is-silver-a-good-investment" target="_blank" rel="noopener">Is silver a good investment? A beginner's guide to silver and the role it can play in your portfolio</a></h3><h3><a href="https://www.businessinsider.com/how-to-diversify-portfolio" target="_blank" rel="noopener">How to diversify your portfolio to limit losses and guard against risk</a></h3><h3><a href="https://markets.businessinsider.com/news/stocks/warren-buffett-bought-3500-tons-silver-made-thomas-kaplan-billionaire-2020-5-1029228443" target="_blank" rel="noopener">Warren Buffett bought 3,500 tons of silver in 1997. The purchase helped make Thomas Kaplan a billionaire.</a></h3><h3><a href="https://www.businessinsider.com/how-to-invest-in-gold" target="_blank" rel="noopener">Beginner's guide to investing in gold: The major ways to buy and trade gold, and the benefits and drawbacks of each</a></h3><h3><a href="https://www.businessinsider.com/how-to-invest-in-silver-advice-precious-metals-chris-blasi-2021-2" target="_blank" rel="noopener">A 20-year precious metals veteran breaks down why Reddit traders' silver squeeze fizzled out - and shares his best advice for investing in the commodity as a bull market remains intact</a></h3>

How to invest in silver, a precious metal that both diversifies your portfolio and rises with new tech industries

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Rob Bennett/AP Images</span></p><p class="caption">Donald Trump accepts Gold Bullion from APMEX CEO Michael Haynes as a deposit on a commercial lease for the 50th floor at 40 Wall St. on Thursday, Sept. 15, 2011 in New York.</p></div><p></p></div></div>HSBC technical analysts are <a href="http://www.businessinsider.com/gold-has-got-its-groove-back-2016-1">bullish on gold</a>. </p><p>"The US dollar price of Gold is in an uptrend with a bullish Elliott Wave structure," said Murray Gunn, HSBC's head of technical analysis.</p><p>"With momentum turning up we open a long position at a spot reference of $1,260. A stop-loss is set at $1,200 with an initial target of $1,500."</p><p>Gold was trading at around $1,261 an ounce on Tuesday morning. </p><p>Gunn's analysis is formulated based on something called the Elliott Principle, a form of technical analysis that believes investors move between periods of bullish and bearish thinking in a reasonably consistent pattern.</p><p>Or as HSBC puts it:</p><p style="padding-left: 60px;">Elliott's Wave Principle is based on his empirically derived discovery in the 1930s that market prices move in recognizable, repeating patterns and that these patterns reflect a basic natural harmony manifested in the inherent herding behavior of crowds. Elliott discovered that these crowd behavior cycles appeared at every time scale and whilst they were repetitive in structure they were not always repetitive in amplitude or the time taken to form.</p><p>By this principle, bullish sentiment moves prices up in five moves of alternating peaks and valleys, eventually pushing prices to a new high. This is followed by three bearish moves pushing prices lower.</p><p>Based on his analysis, Gunn believes that <a href="http://www.businessinsider.com/ubs-technical-analysis-buy-gold-not-equities-2016-1?r=UK&amp;IR=T">gold has hit the bottom</a> of <a href="http://www.businessinsider.com/history-of-gold-bear-markets-2015-7">its recent down cycle</a> and the<a href="http://www.businessinsider.com/commodity-prices-march-17-2016-3?r=UK&amp;IR=T"> price gains made by the metal</a> over the past few weeks are forming a new, substantial upward trend.</p><p>In addition, Gunn is relatively bearish on all major global stock indexes including the S&amp;P 500 and FTSE 100. In terms of sectors, the analysis is significantly bearish on US motorcycle manufacturers, agricultural products, and apparel retail. It is significantly bullish on no sector of US stocks.</p><p><div class="KonaFilter image-container display-table click-to-enlarge"><div><div class="image"><a title_source="HSBC" title_caption="" class="zoomin" href="https://static-ssl.businessinsider.com/image/570ce37e52bcd021008bc031-960/screen shot 2016-04-12 at 8.00.17 am.png"><span class="sprites click-to-enlarge-icon" title="Click to enlarge"></span></a><p class="source"><span>HSBC</span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/dea-agent-when-asked-to-try-drugs-mike-vigil-deal-2016-3">EX-UNDERCOVER DEA AGENT: What I did when drug dealers asked me to try the product</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="w1MGxlMjE6hH45aq4Ag4Q590qZgMWztE" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

HSBC: Buy gold!

<p><table class="image-container float_right" width="200"><tr><td><div class="image"></div><p class="source"><a href="http://www.flickr.com/photos/27117418@N07/2557960827/sizes/m/in/photostream/">Flickr / hto2008</a></p></td></tr></table>After a decade of soaring <keyword id="46002" type="UNKNOWN" weightage="40" keywordseo="Gold-prices">gold prices</keyword>, <keyword id="6357395" type="CITY" weightage="60" keywordseo="eBay">eBay</keyword> thinks <a href="http://ebayinkblog.com/2013/01/08/ebay-brings-gold-buying-into-the-mainstream/" target="_blank">now is a great time</a> for <keyword id="818790" type="UNKNOWN" weightage="40" keywordseo="the-rest">the rest</keyword> of America to jump into the market.</p>
<p>They've partnered with precious metals dealer APMEX to build an online <a href="http://ebayinkblog.com/2013/01/08/ebay-brings-gold-buying-into-the-mainstream/" target="_blank">gold emporium</a> consumers can browse from home.</p>
<p>From a mega e-tailer's perspective, it makes sense. People are asking for something, so why not give them what they want? </p>
<p>"In today’s uncertain <keyword id="34412" type="ORGANIZATION" weightage="40" keywordseo="economy">economy</keyword>, people are looking to <keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">gold</keyword> and silver as more reliable ways to <keyword id="47916" type="UNKNOWN" weightage="40" keywordseo="invest">invest</keyword>, but some lack trust in those who sell gold and silver," the company says in a statement. "Many do not even know where to buy. The <a href="http://ebayinkblog.com/2013/01/08/ebay-brings-gold-buying-into-the-mainstream/" target="_blank">APMEX Bullion Center</a> on eBay offers everyone a convenient way to buy gold and silver from a source they already know and trust, and people are taking notice." </p>
<p>From an <keyword id="35175" type="UNKNOWN" weightage="60" keywordseo="investing">investing</keyword> standpoint, however, this kind of mainstream treatment should be a pretty big red flag.</p>
<p>"The allure of gold ... reminds me of market darlings of yesteryear," says <a href="http://www.businessinsider.com/gold-is-not-as-great-an-investment-as-you-think-2011-9" target="_blank">certified financial planner Adam Bold</a>. "Remember when everyone piled into dot-com <keyword id="6354298" type="ORGANIZATION" weightage="40" keywordseo="stocks">stocks</keyword> and drove them into bubble territory in the late 1990s? Most of those speculative Internet stocks crashed a few years later. Soon after that, people were jumping into <keyword id="6354553" type="COMPANY" weightage="40" keywordseo="real-estate">real estate</keyword> and home prices went through the roof. We all know how that turned out."</p>
<p>And while eBay markets its new store as a doorway into the "New American <keyword id="154512" type="ENTERTAINMENT" weightage="60" keywordseo="Gold-Rush">Gold Rush</keyword>," a recent report shows that it might be a decade too late. </p>
<p class="p1">A commodity analyst at <keyword id="6361649" type="CITY" weightage="40" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> all but called the <a href="http://www.businessinsider.com/goldman-calls-the-end-of-the-gold-bull-market-2012-12" target="_blank">end of the bull market for gold</a> in December, chocking up its soaring value to rising <keyword id="6371181" type="UNKNOWN" weightage="40" keywordseo="interest-rates">interest rates</keyword> and a rocky economy that is now getting back on its feet. </p>
<p>"T<span>he gold outlook is caught between the opposing forces of more Fed easing and a gradual increase in US real rates on better US economic growth," the firms says. "Our expanded modeling suggests that the improving US growth outlook will outweigh further Fed balance sheet expansion and that the cycle in gold prices will likely turn in 2013." </span><span><br /></span></p>
<p><strong>The bottom line</strong>: While gold can be a smart way for investors to diversify their assets, we'd be a little cautious before buying into a sales pitch that leads with the "New American Gold <keyword id="37572" type="ENTERTAINMENT" weightage="40" keywordseo="rush">Rush</keyword>."</p>
<p>We've <a href="http://www.businessinsider.com/gold-ad-from-1973-shows-that-nothing-ever-changes-2012-12" target="_blank">been there, done that.</a></p>
<p>Here are a few slides from the presentation eBay used to make its case for its new gold emporium: </p>
<h3><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source">eBay</p></td></tr></table></h3>
<h3><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source">eBay</p></td></tr></table></h3>
<p><table class="image-container" width="200"><tr><td><div class="image"></div><p class="source">eBay</p></td></tr></table></p>

When Gold Is Mainstream Enough For eBay, It's Probably Time To Run

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Scott Olson/Getty Images</span></p><p class="caption">Republican presidential candidate Donald Trump speaks to guests during a campaign rally at the Radisson Paper Valley Hotel on March 30, 2016 in Appleton, Wisconsin.</p></div><p></p></div></div>Republican presidential candidate Donald Trump <a href="http://www.businessinsider.com/donald-trump-poll-numbers-economy-2015-8">wants America to win economically again.</a> Create jobs, produce more, grow the country's GDP.</p><p>According to Ricardo Bekin, CEO and Chief Investment Officer for Ativo Capital Management, none of that would happen if Trump were elected. In fact, by Bekin's assessment, it would be economic disaster.</p><p>"There is no question that [a Trump presidency] would create significant instability for the economy and market," Bekin told Business Insider. "It would not be good for either."</p><p>"He has a plan at 9 a.m. and then by the afternoon that's totally changed," Bekin, whose firm manages around $1.5 billion, said. "Companies need stability from the government and a Trump presidency would not provide that."</p><p>To Bekin, companies need an idea of the future path of policy. It's impossible to adjust if firms don't know what their tax rate is going to be, how much they can import or export, and the like. In turn, when companies are unsure of the future they are usually unwilling to spend on hiring and capital investments.</p><p>Trump has proposed various economic platforms such as <a href="http://www.businessinsider.com/donald-trump-45-tariff-chinese-imports-china-2016-1">a reported 45% tariff on Chinese imports</a>, forcing Apple and other companies to <a href="http://www.businessinsider.com/why-donald-trumps-plan-to-build-iphones-in-us-wont-work-2016-3">bring manufacturing back from overseas</a>, and <a href="http://www.businessinsider.com/donald-trump-tax-plan-2015-9">lowering taxes on many corporations.</a></p><p>Bekin said that investors don't appear to be worried, but they should be.</p><p>"It seems that markets are discounting the actual possibility that [a Trump presidency] is going to happen," Bekin said. "It seems like they expect him to implode and lose whatever support he has left. I think the markets should be very concerned, however, it would be terrible."</p><p>Bekin said that at first, Trump was attractive to businesses but that faded.</p><p>"I think we went through a phase where everyone was impressed by his pro-business views," said Bekin. "Tax reform, more favorable trade deals, it all looked good. Then this stuff just kept coming, all of this uncertainty, and it became clear that he would not be good for companies."</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Rob Bennett/AP Images</span></p><p class="caption">Donald Trump accepts Gold Bullion from APMEX CEO Michael Haynes as a deposit on a commercial lease for the 50th floor at 40 Wall St. on Thursday, Sept. 15, 2011 in New York.</p></div><p></p></div></div></p><p>Ram Gandikota, senior portfolio manager at Ativo, said that the evidence of the shift is already becoming apparent.</p><p>"You already have a lot of companies questioning whether or not they want to sponsor the Republican National Convention," said Gandikota.</p><p>Bekin agreed saying that it isn't attractive to sponsors because there's going to be a "gun battle on the floor of the convention."</p><p>In sum, both Gandikota and Bekin agreed that the combination of Trump's policies and his erratic nature would spell disaster for the US economy and financial markets.</p>

FUND MANAGER: Here's why President Trump would be an economic disaster

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://bitcoinfees.info/">Bitcoinfees.Info</a></span></p><p class="caption">Bitcoin transaction fees have gone from around $2 a transaction in October to $37 in late December.</p></div><p></p></div></div>Bitcoin use in the real world may have started with the <a href="http://www.businessinsider.com/may-22-bitcoin-pizza-day-2014-5?IR=T">purchase of a pair of pizzas</a>, but you'd be unlikely to see it used for such a minor exchange today.</p><p>That's because as bitcoin has soared in popularity it's become too expensive to use in small transactions. </p><p>The problem came to a head in early December, when Steam, the popular downloadable video game store, announced it would stop accepting bitcoin payments for games, citing the currency's volatility and high transaction fees. Steam relied on a bitcoin payment system called BitPay. Among BitPay's other customers are Microsoft, online retailer NewEgg, and APMEX, which sells precious metals online.</p><p>Business Insider checked in with BitPay communication manager James Walpole to find out why bitcoin transactions have become so costly. Here's what he had to say: <span><br /></span></p><h2><strong>Don't blame BitPay for high bitcoin transaction costs</strong></h2><p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>BitPay</span></p><p class="caption">BitPay provides an application that lets merchants accept bitcoin as payment in exchange for goods.</p></div><p></p></div></div></p><p>You might think that services like BitPay are to blame for bitcoin's high transaction costs. After all, BitPay's service, which lets merchants accept bitcoin as payment, is similar to a credit card processing service, and retailers are often complaining that credit card fees cut into their profits.</p><p>But the fees charged by BitPay and similar companies represent only a small portion of the total cost of a typical bitcoin transaction. For its part, BitPay charges merchants a 1% processing fee per transaction. If a customer spends $10, BitPay keeps $0.10, while sending the vendor the remaining $9.90. </p><p>That's the same fee charged by BitPay rival CoinGate, but one that is less than what's charged by Stripe or Visa on credit card transactions. Those fees can add up over many transactions, but they're not what's making individual bitcoin payments so costly.</p><h2><strong>Instead, blame the bitcoin miners</strong></h2><p>So if it's not BitPay and other bitcoin payment processors that are making transactions using the cryptocurrency so expensive, what is? Walpole points the finger at bitcoin miners.</p><p>Miners are the people or companies that record data in the bitcoin blockchain, the digital ledger that keeps track of all bitcoin transactions. Miners save those transactions in so-called blocks; they complete a block by solving ever-more-complex cryptographic puzzles.</p><p>Mining has become an expensive proposition. It requires high-powered computers that use lots of energy. Miners are typically in the business to make money. They're compensated for their services in three ways.</p><p>When they solve a particular puzzle and complete a block, they are awarded with newly created bitcoin. But they also collect fees from both individual bitcoin holders and from bitcoin payment processors such as BitPay. </p><p>Its those fees that have made using bitcoin so pricey.</p><h2><strong>Mining fees are skyrocketing</strong></h2><p>The first type of fee miners collect are mining or transaction fees. These fees in particular are surging.</p><p>At the end of September, <a href="https://bitcoinfees.info/">the average bitcoin mining fee</a> was around $2 per transaction. By December 21, average fees reached a high of around $37. </p><p>The surge in fees was a matter of supply and demand. As bitcoin's price surged from $10,000 to $20,000, increasing numbers of people wanted to invest in the cryptocurrency. The upsurge in users and transactions increased the demand for miners' services.</p><p>At the same time, supply is constrained. The blockchain system that underlies the cryptocurrency can only process around 3 to 7 transactions per second. So at any given moment, a greater number of transactions were competing for a relatively small number of slots in the ledger.</p><p>But another, related factor was at work too. Mining fees, which are paid by individual users to miners, are actually optional; bitcoin users don't have to pay them. But they usually do, because the fees encourage miners to record their transactions sooner rather than later. The sooner you want a transaction written to the blockchain, generally the higher mining fee you'll have to pay.<strong> <br /></strong></p><p>The advantage of having a transaction recorded quickly is that the sooner it's recorded, the sooner you can spend or sell the coins you've received - and the sooner a merchant will mark a deal as completed. That speed can be important when using bitcoin to buy high-demand goods, like concert tickets, which can sell out fast.  </p><p>But speeding the recording of bitcoin transactions has been particularly important in a volatile market such as the one the cryptocurrency has experienced in recent months. With the price of bitcoin fluctuating by hundreds or even thousands of dollars in mere hours or minutes, there's a big benefit to being able to buy and sell coins sooner rather than later - and many bitcoin traders have been paying up for just that advantage. <span></span></p><h2>There's also network costs</h2><p>In addition to mining fees, bitcoin users often have to pay a second fee that ultimately goes to miners, something called a network fee. Payment processors such as Bitpay and Coinbase collect such fees from consumers making purchases to pay miners to move funds from an individual customer's bitcoin wallet address to that of a merchant. The payment processors add the fee to the transaction total.</p><p>So when a customer buys something from a merchant using BitPay via the customer's personal digital wallet, the total the customer pays includes both the price of the purchased item and the network cost. BitPay doesn't make any profit off this fee though, Walpole said.</p><p>Like mining fees, network costs fluctuate based on how busy the network is. Unlike mining fees, however, network charges aren't optional; BitPay charges them on all transactions it handles to ensure that miners record those transactions as quickly as possible.  </p><h2><strong> Volatility matters, but not why you think</strong></h2><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Markets Insider</span></p><p class="caption">The USD price of bitcoin has fluctuated considerably since September.</p></div><p></p></div></div></p><p>Bitcoin's price has fluctuated a lot over the last year, but overall has gone way up. And bitcoin transaction costs have gone up in tandem with it.</p><p>But the rise in bitcoin's value and the jump in transaction fees aren't as closely linked as they may sound. The price of bitcoin doesn't have a direct impact on transaction fees. It's not like miners are charging more or bitcoin users are having to pay higher fees just because bitcoin is worth more. </p><p>Instead, all of the volatility in the price of bitcoin had led to more people buying and selling the cryptocurrency - which has meant a whole lot more transactions that need to be recorded. And more demand has led to higher fees. </p><p>But volatility is affecting demand in a more important way. Because of those fluctuations, the value of bitcoin can change significantly in a short amount of time. When there are a lot of transactions taking place, it can potentially take days to record them all, during which time bitcoin's value could have changed by thousands of dollars.</p><p>Merchants risk losing money if they lock in a price with a customer and the value of bitcoin falls before the transaction is completed. That's not a risk many merchants or bitcoin traders take lightly, so many have been willing to accept higher fees to speed the recording of their transactions.</p><h3><a href="http://www.businessinsider.com/what-is-blockchain-how-does-it-work-explainer-2017-11?r=article"><strong>Read more about the blockchain technology<span> </span>that powers bitcoin<span> </span>here.</strong></a></h3><h3><strong><a href="https://t.co/WumVnuL8yj" target="_blank" rel="noopener">Subscribe to our Crypto Insider newsletter for the best of the blockchain every day</a></strong></h3><p class="tagline"><div id="categorypromo" style="border:1px solid silver; min-height:90px; padding:10px;vertical-align:top;"><a href="http://read.bi/bitcoin-101-free"></a><strong>EXCLUSIVE FREE REPORT:</strong><br>The Bitcoin 101 Report by the BI Intelligence Research Team.<br><strong><a href="http://read.bi/bitcoin-101-free">Get the Report Now »</a></strong></br></br></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-you-should-never-throw-away-silica-bags-again-2016-2">Why you should never throw away these bags again</a></h3>        <div>                    </div>    </div>

You Searched For "apmex" and got 7 results

Silver miners soar as Reddit traders pile into the precious metal

Will Daniel

Silver spikes 13% to 8-year high as Reddit day traders turn their buying power towards a fresh target

Harry Robertson

How to invest in silver, a precious metal that both diversifies your portfolio and rises with new tech industries

Alexis Rhiannon

HSBC: Buy gold!

Bob Bryan

When Gold Is Mainstream Enough For eBay, It's Probably Time To Run

Mandi Woodruff

FUND MANAGER: Here's why President Trump would be an economic disaster

Bob Bryan

The cost of bitcoin payments is skyrocketing because the network is totally overloaded

Becky Peterson

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