PSLV - PSLV: Another Dip To Buy Sprott Physical Silver Trust
2024-05-03 21:47:48 ET
Summary
- PSLV shares are again near $9. I think this level has flipped to support rather than resistance.
- Technical analysis suggests a strong multi-year uptrend in silver with potential for another attempt at capturing $30/oz.
- The fundamental case for PSLV is supported by rising US debt and supply/demand dynamics in the silver market.
It has now been over a year since I last covered the Sprott Physical Silver Trust ( PSLV ) for Seeking Alpha. In my last piece, I said it was "time to buy the dip" and the timing of that call was quite good. At the time the article was published, PSLV shares were just over $7 and within a few weeks PSLV ripped up near $9. Following that rip, PSLV chopped around a bit for several months but we have since broken out of that range....
PSLV: Another Dip To Buy Sprott Physical Silver Trust