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Hunter Wise Commodities: Silver, platinum, palladium on downside, but not for long
Precious metals silver, platinum and palladium have struggled lately due to a rising dollar and progression against European debt. However, financial experts at Hunter Wise Commodities say now is the time to diversify your portfolio with metals.
Silver futures for September delivery declined 36.6 cents, or 1 percent, to $34.65 an ounce on the New York Mercantile Exchange. This week, the price dropped 3.1 percent – but the precious metal has gained 12 percent in 2011.
Platinum futures for October delivery fell $17, or 1 percent, to $1,680.50 an ounce. Earlier, the price reached $1,678.50, the lowest since March 17. The physical commodity, down 4.1 percent this week, has declined 5.5 percent in 2011.
Palladium futures for September delivery declined $11.85, or 1.6 percent, to $731.50 an ounce. Earlier, the price hit $731.10, the lowest since May 24. Overall the precious metal, down 1.9 percent this week, has declined 8.9 percent in 2011.
Though these precious metals are declining, investors shouldn’t stop adding them to their portfolios, according to experts at Hunter Wise Commodities LLC, a physical commodity wholesale dealer with headquarters in Las Vegas.
“It’s important to diversify your portfolio with precious metals, which are safe havens for any financial storm,” said Ed Martin, president of Hunter Wise Commodities.
“I recommend purchasing precious metals while prices are lower, then seeing the rewards, as prices will undoubtedly rise,” Martin said. “We believe the volatile market supports the precious metals as an investment forum.”
When an independent retailer joins with Hunter Wise Commodities, they enter a unique two-way market model. This provides independent dealers a venue for selling their precious metals while receiving a full range of support services from Hunter Wise.
Accounting software and around-the-clock customer service are included, which allows independent retailers the opportunity to maximize their profit potential.
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About Hunter Wise Commodities
Hunter Wise Commodities, LLC is an affiliate of Hunter Wise Financial Group, LLC. The wholesale dealer specializes in the purchase and sale of precious metals such as gold, silver, platinum, palladium and copper. The company’s corporate headquarters are in Las Vegas, Nev., with additional offices in Irvine, Calif., and London, England. For more information about the company, visit http://www.hwcom.com/