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Dec. 7, 2012, 8:26 a.m. EST
Silver gains favor as an investment asset
By Myra P. Saefong, MarketWatch
SAN FRANCISCO (MarketWatch) — Silver’s more popular and volatile than ever, ready to finish the year with gains more than double those of gold, as the industrial staple wins more favor as an investment asset.
“The evidence is clear that investment, not industrial demand, is what is driving silver prices higher,” said Mark Thomas, chief investment strategist and author of SilverPriceAdvisor.com.
The precious-metals consultancy forecast that implied net investment would jump 82 million ounces to 234 million in 2012 from 2011, even as demand for silver in industrial applications is expected to fall nearly 28 million ounces. Read more on the Thomson Reuters GFMS report. http://www.silverinstitute.org/site/wp-content/uploads/2012/11/GFMSSilverMktPR2012_Rev.pdf
“Current investors in silver now have survived a parabolic rise, a subsequent plunge in price and some extremely dramatic wide trading ranges,” said Thomas. That means “current owners of silver are very solid, committed, long-term investors.”
True. I expect silver to hit $100/oz this decade.
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“Many analysts tout silver’s duel role as an industrial metal as an added advantage,” said Brien Lundin, author of the Silver Bullet Strategy, published by Gold Newsletter. However, “it is silver’s monetary utility that justifies its current valuations, and that is the only basis on which it should be analyzed in the current environment,” he said.
More: http://www.marketwatch.com/story/silver-gains-favor-as-an-investment-asset-2012-12-07
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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