Precious metals present a conundrum at the moment. On the one hand, metals like silver seem to be battered to a very “cheap” level.
iShares Silver (NYSE:SLV)
On the other hand, as I’ve mentioned ad nauseum, the miners are positioned for a cataclysmic decline.
VanEck Vectors Junior Gold Miners (NYSE:GDXJ)
I suppose, if I had to choose a side, I’d be in the “brief bounce” camp, since sentiment for precious metals is in the lower single digits. Longer-term, however, I think metals are pretty much hosed.