BUY - Global X Physical Silver (ETPMAG)
*** GENERAL AVICE ONLY***
Trade Date: 04/12/2023
Description: ETPMAG is backed by physical silver. Each physical bar is segregated, individually identified and allocated.
Recommendation
Buy 5% allocation of Global X Physical Silver (ETPMAG)
Entry price: $35.50 (Silver spot price circa $26)
Target Price: $44.00 (Silver Spot circa $32.24, +24.48%)
Stop Loss: 12% trailing
Rationale:
Precious metals have had a great run of late, buoyed by some weakness in the DXY. Gold especially, has broken out to new highs this morning. Our preferred play in the space is Silver, thanks to still being used industrially. The easiest way to get direct exposure is buying a physical ETF as there are no mining company risks, looking for the Silver price to play catch up to Gold and rise up to the $28 level, where it previously traded in May 2021
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.