How to play a dip in the silver price

Silver has been a one-way bet for a long time now. But short term, it could pull back, says Tim Bennett. And that creates a good opportunity for spread betters to profit.

Silver has been a one-way bet for several years now.The pricehit a new high atjust below $40 an ounce this week. That's a 31-year high. Just a few years ago the metal was trading at one third of that price. What's going on?

Fears that global inflation may be about to lift off have helped silver's cause. Like gold, it's seen as an inflation hedge - mainly because central banks can't print more of it on a whim.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.