Silver Tipped to Outperform
Source: Economic Times, Ram Sahgal (7/21/11)
"Retail investors who lost their shirts during silver's 31% crash may have a chance of redeeming their losses by year-end."
Retail investors, who lost their shirts during silver's 31% crash over the past three months, may have a chance of redeeming their losses by the year-end, with precious metals tipped to outperform other assets, because of debt concerns in the US and the sovereign crises in the euro zone.
"People stuck in silver are mainly retail investors who bought bars at around 73,000 a kilo," said Suresh Hundia, chairman, Hundia Exports and former president of Bombay Bullion Association (BBA), which comprises bullion dealers and jewellers from the country's largest wholesale market in bullion. "I believe silver will advance to 65,000 a kilo by Diwali and reclaim the 75,000-mark by the year-end underpinned by a weak dollar". . .View full article