MIAMI, FL, July 25, 2011 (Press-News.org) There may be no target too high for silver to reach in coming months. Investors were captivated by silver earlier this year, only to grow cautious following its rather spectacular drop in May. Silver tends to attract a fair share of safe haven buying, causing it to rise alongside gold in the wake of economic crises on both sides of the Atlantic. Some analysts are now going out on a limb and suggesting future prices well over $100 for the white metal.
Silver has always been more volatile than gold, which may have scared off some investors, but the outlook appears to be very positive. Eric Sprott of Sprott Asset Management called it "the investment of the decade". Demand for silver is continuing to rise, especially from the technological industries, where it is being used in cell phones and computers; meanwhile supplies have been unreliable. Additionally, the gold to silver ratio is decreasing.
Many analysts are predicting $50 an ounce, but some are going far higher with their forecasts. Citigroup Group Markets suggests that silver could reach $100, comparing the present situation with silver's earlier run in the 1970s. Some analysts suggest a long-term target as high as $140.
"Silver is an excellent entry point into the world of bullion investing," says Bill Hionas of Pan American Metals of Miami. "It enjoys considerable demand from a wide range of industries while also attracting safe haven buying."
Pan American Metals of Miami was showing silver at $40.09 on Friday afternoon. PAMM has a team of seasoned brokers available to assist buyers wishing to take a position in silver.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey@investpanam.com
Website: http://www.panamericanmetalsofmiami.com
Pan American Metals of Miami Says Silver Outlook Very Positive
Investors were captivated by silver earlier this year, only to grow cautious following its rather spectacular drop in May. Silver tends to attract a fair share of safe haven
2011-07-25
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[Press-News.org] Pan American Metals of Miami Says Silver Outlook Very PositiveInvestors were captivated by silver earlier this year, only to grow cautious following its rather spectacular drop in May. Silver tends to attract a fair share of safe haven