As options expiry approaches it is important to stay committed and not sell your holdings. If you have gone the whole hog and taken delivery off the physical metal then hold on tight and don't be tempted to give others a bargain price by selling now.
With a little under two weeks to go until one of the most important presidential elections in the United States in recent times, we are unlikely to see the dollar index decline much and this is never good news for precious metal traders.
Dave Briggs, a Senior Broker at Qualified FX in Tokyo, Japan says "if we hold off until after the election we are bound to see a heavy move north in silver prices. To sell now would be nothing short of ridiculous."
Dave goes on to say - "At the end of the day, as an asset class, we have seen one of the best performances over the past decade and nothing suggests that this will not continue."
Disclosure: Dave Briggs and Qualified FX hold several call options in silver with various expiry dates.
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