While everyone has been eyeing gold, silver has actually been the winning commodity so far this year, says U.S. Global Investors's Frank Holmes. » Read More
The dollar is rising and gold has been gaining too. What's going on? The greenback and gold are usually inversely correlated, so when the dollar goes up, gold goes down and vice versa. But not today—and that highlights the gravity of sovereign debt concerns and worries about the value global currencies, not just the greenback.
With silver prices tumbling for a third straight session, traders are questioning if its record-breaking rally in recent months is finally over.
"Investors are looking at what the news is and they're reacting to it, and the reaction isn't necessarily a healthy one at all times," says one market pro.