METALS: No Shine in Silver

Since ancient times—indeed since long before Judas Iscariot betrayed Jesus —silver has been regarded as a precious metal, often playing a crucial role in the rise and fall of nations. In recent years, silver has gradually ceased to be used as a base for currencies. For this and other reasons, the price of silver has plunged—from an alltime high of $2.57 per oz. in June 1968 to as low as $1.29 early last month. Victims of the fall include Wall Street metals speculators, small-time investors who had bought silver as a hedge against inflation, silver miners in the U.S....