Is Silver Bound for a Rally Towards $23?
Source: Commodity Online (10/19/09)
"Silver has been the sleeping giant that's being awakened by a market ripe for precious metals investors. . ."
"This large move in silver is coming very soon and there's no time like the present to thoroughly understand that precious metals are where the money is being made," says James Burbage III, President of Lloyds.
Gold has not become the silent partner though, for those who want to stay focused on the precious metal most highly sought after. With an interest rate hike in Australia and geopolitical tension between Iran and Israel, gold jumped to an all-time high of $1,062/oz., leaving an indisputable market to invest in.
This is the handwriting on the wall if you consider gold's performance a precursor for what is ahead for silver, especially considering silver has historically outperformed gold. To sharpen up a precious metals portfolio, silver is the wise investment for the coming months. Although economic hard times are continuing their persistent run on the majority of the world's industries, the precious metals market is virtually insulated against recessionary damage.
"Silver has been the sleeping giant that's being awakened by a market ripe for precious metals investors who know how to take the necessary steps to secure their financial futures." The perceived value of silver has historically been overshadowed by the brilliance of gold, but this trend is taking a stellar turn in favor of silver as the price continues on a proverbial hell-bent mission. "We may see silver soar to the $23 mark and beyond before 2009 comes to a close," Burbage adds.