Precious metals ETFs: the silver lining

The only asset class to benefit from both the credit crisis and the policy response of quantitative easing has been the precious metals. Unlike paper currencies gold cannot be debased and offers a store of value that can withstand just about any shock to the financial system. Last year was a strong one for the markets with the extra liquidity from the Fed pushing up asset prices across the board, but once again the storm clouds are gathering. The main threat is an escalation of the European sovereign debt crisis, although the weak dollar, a possible slowdown in the US economy and higher...