Silver gained 3.89% Monday. On Tuesday . . . Silver Rides Gold’s Rally, Could Attract More Buying Interest

12 May 2010, 1:44 p.m. EST By Debbie Carlson Chicago — (Kitco News) –

“Silver has been a side beneficiary of gold’s rally this week, moving to its highest price levels since March 2008 on Wednesday. Often called “the poor man’s gold”, the white metal is acting like a proxy to gold as it set a new all-time high Wednesday. Like gold, those buying silver are doing so on worries that the sovereign risk problems in European can’t be quelled despite massive aid packages by the European Union, European Central Bank and the International Monetary Fund. “People who are afraid they missed the move in gold are coming to silver,” said George Gero, vice president with RBC Capital Markets Global Futures.

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