Is It Too Late to Buy Sprott Physical Silver Trust (PSLV) Stock?
Palm Valley Capital recently released its Q1 2021 Investor Letter, a copy of which you can download here. The fund posted a return of 3.60% for the quarter, underperforming its benchmark, the S&P Small Cap 600 Index which returned 18.23% in the same quarter. You should check out Palm Valley Capital’s top 5 stock picks for investors to buy right now, which could be the biggest winners of 2021.
In the Q4 2020 Investor Letter, the fund highlighted a few stocks and Sprott Physical Silver Trust (NYSE:PSLV) is one of them. Sprott Physical Silver Trust (NYSE:PSLV) is a closed-end mutual fund trust, created to invest and hold substantially all of its assets in physical silver bullion. Here is what the fund said:
April 12, 2021
Precious metals, particularly silver futures and ETFs, are falling Monday, as the futures traders may be reigniting the downtrend to begin the trading week, amid a dearth of headline news to help move markets.
June gold futures dropped $16.50 to trade at $1,728.30 an ounce, while May Comex silver futures declined $0.570 to $24.75 an ounce. The moves have been tougher on silver which is down 2.25% as of almost 3 PM EST.
Technical analysts are suggesting that silver remains in its nearly 3-month downtrend, which could be reasserting itself based on the action from last Friday and today, where prices broke below recent highs near $25.67 an ounce.
Could the Pullback in Gold and Silver ETFs Be a Buying Opportunity? etftrends.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from etftrends.com Daily Mail and Mail on Sunday newspapers.
March 17, 2021
Pay enough attention to the silver market this year and you’re sure to hear something about short covering and squeezes.
That chatter is starting up again, and it could be to the benefit of the
“Silver once again outperformed Gold today by gains, Silver is up just over 1%, while Gold gained only 0.24%. According to the CFTC data as of March 9, there is a 20,000 spread between the overall net positions on Silver Futures, with an edge going to short positions,” reports
PSLV is a closed-end fund that lets investors redeem large blocks of shares in exchange for delivery of silver bullion.
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MARKET OUTLOOK:
In the early days of March, global bonds have continued to suffer intense selling pressure. While CPI s have yet to confirm the resurgence of inflation, investors are increasingly uneasy in the face of mounting signs of cost-push, and expectations of imminent demand-pull dynamics. The rise in grain and energy prices is a worrying development and imposes major downstream effects to global living costs. While the former impacts livestock and biofuels, the latter cascades into transportation and logistics, the backbone of our modern economy.
The new U.S. government has ordered a review of critical supply chains focused on semiconductors, batteries, pharmaceuticals and all key underlying minerals and ingredients following recent disruptions particularly affecting the technology sector. The move sparked criticism from China â which controls approximately