The precious metal has more upside potential than gold, and is a great buy below $30 an ounce, says Pamela Aden, co-editor of The Aden Forecast.

Should you be buying silver? We’re talking today with Pamela Aden about that question. Pamela, what do you think about that?

Well, silver has been a great investment. In fact, it has had more movement since 2003, when its bull market started—it has gone up 1000% compared to gold. It has been a winner. It has been a mover.

It has been influenced by being a precious metal and an industrial metal, so when the world economy is looking strong, you’ll get a stronger silver price. So yes, we definitely are a buy and hold for silver.

Now, do you think people should go for silver rather than gold, or both?

Oh, definitely both; but I think silver has more upside percentage-wise in gains. It has more potential on the upside.

Now, one of the things that I know you’ve talked about has been some price targets for silver, and also you’ve talked about a strategy for buying on the dips. Say something about that.

Well, silver has its own characteristics. When it takes off, it goes. You definitely want to be on board before it takes off, because it doesn’t look back. It has always had that way about it. Its move has always been very much that way.

Taking, for example, the summer of 2010, just a couple of years ago, we had silver trying to break above $21. When it finally did, it zoomed up to $48, and if anyone tried to buy in a dip, there was no dip. It sat there at that level for quite a while. So you can sit there and know you’re just going to be a little early, but you’re going to get on…

And then it came back down. Just a month or so ago, we saw it hit $27 from the $48. That shows a lot of volatility, but it’s understandable volatility. We were feeling, even though it was up to $48 before it started coming down, that under $30 was a fabulous purchase and it still is.

Anything under $30 is like a screaming buy situation, while even at $34 it’s a good buy. We would take advantage of weakness in silver whenever it comes up and just buy and hold.

So how do you suggest that people get exposure to silver?

Well, there are several ways. You can buy an ETF. That’s an easy way, just like a stock. You can buy the futures market. You can buy, of course ,silver bars and silver coins. Those are the different ways you can buy silver.

Of course, there are silver shares, but it has a little bit different element. There are a couple of silver shares we really like too.

Any that you can talk about today?

Well, Silver Wheaton (SLW) is one of our favorite,s clearly. That’s a senior miner. It’s good. Whenever silver does take off, it goes with it. For a little variation, that’s a nice one.

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