JULY 27 2007 10:00AM - Another tough day for silver and gold but certainly not as bad as it could have been. I have calculated a new level of speculative support for silver at $12.72/oz. basis the September COMEX contract. This level was very briefly breached earlier today but there was an immediate recovery and several subsequent attempts to sell silver down were thwarted. Still, I will probably lighten my speculative exposure should this level fail to hold. On the other hand, silver investors looking for a good buying opportunity should search no further -- metal and PM stock prices may not be this attractive for very long. Thus, I continue to advocate steady accumulation to those investors underexposed in this sector (I would consider underexposed to be less than 25% of net worth, across all forms of precious metal holdings including the minimum 10% that I believe should be the core holding of physical bullion owned directly and securely).
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