bobbyw24
Banned
- Joined
- Sep 10, 2007
- Messages
- 14,097
By Geena Paul
NEW DELHI (Commodity Online): When did you last heard about gold’s country cousin silver? Maybe, a small article on the last page of your business newspaper or somewhere at the end of the bullion reports on your favourite website.
In that just forget your previous mistakes and sit up and think about silver as a better investment than gold in 2010. Even though gold hogged all the limelight in 2009 because of its safe haven demand, silver has been doing extremely well in 2009 also. But, 2010 will be the year of silver if the present trend continues. And, silver is certain to hog headlines in the New Year with the prices and demand set to scale new heights.
In fact, silver price moved up 189 per cent in the first decade of this century. In 2009 alone, it has beaten gold hands down as far as price gains are concerned.
According to data available with World Gold Council, silver was $6 per ounce in December 1999. By December 2009, silver price rose to $17 and $18 per ounce.
Silver could reach new heights in early 2010, reaching around $22 per ounce, predicted Roger Wiegand, bullion trader and editor of the Trader Tracks Newsletter, in December.
Analysts say that the short-term financial crisis is holding silver in a waiting mode, as people are more attuned to hoarding gold than silver.
Silver’s long-term future rests on new industrial applications, and these are much more likely to happen in a recovering economy rather than a depressed one. In the meanwhile, the silver price will take its cues from gold.
If you take a look at the developmental works happening in India and China, it is easy to understand that the demand for the metal is set to soar in the coming days. And, even if the gold prices come down, silver is set to move up as the industrial demand will witness a surge in 2010.
According to the Silver Institute Web site, a total of 888.4 million ounces of silver was produced through mining, from old silver scrap, and through government sales in 2008. Silver mine production increased by 2.5 percent in 2008, with Peru (118.3 million ounces) being the biggest silver producing country. Mexico (104.2 million ounces), China (82.8 million ounces), Australia (61.9 million ounces), and Chile (44.9 million ounces) ranked behind Peru in silver production.
In 2008, industrial applications consumed 447.2 million ounces of silver, while traditional uses—such as in jewelry, coins, and silverware—consumed 385.3 million ounces.
Diversity is silver’s primary asset. Its unique properties include beauty, strength, sensitivity to light, malleability and ductility, electrical and thermal conductivity, reflectivity and the ability to endure extreme temperature changes. These properties allow groundbreaking research to be conducted by scientists and engineers that effect [sic] the way we live..
http://www.commodityonline.com/news/2010-Year-of-Silver-24562-3-1.html
NEW DELHI (Commodity Online): When did you last heard about gold’s country cousin silver? Maybe, a small article on the last page of your business newspaper or somewhere at the end of the bullion reports on your favourite website.
In that just forget your previous mistakes and sit up and think about silver as a better investment than gold in 2010. Even though gold hogged all the limelight in 2009 because of its safe haven demand, silver has been doing extremely well in 2009 also. But, 2010 will be the year of silver if the present trend continues. And, silver is certain to hog headlines in the New Year with the prices and demand set to scale new heights.
In fact, silver price moved up 189 per cent in the first decade of this century. In 2009 alone, it has beaten gold hands down as far as price gains are concerned.
According to data available with World Gold Council, silver was $6 per ounce in December 1999. By December 2009, silver price rose to $17 and $18 per ounce.
Silver could reach new heights in early 2010, reaching around $22 per ounce, predicted Roger Wiegand, bullion trader and editor of the Trader Tracks Newsletter, in December.
Analysts say that the short-term financial crisis is holding silver in a waiting mode, as people are more attuned to hoarding gold than silver.
Silver’s long-term future rests on new industrial applications, and these are much more likely to happen in a recovering economy rather than a depressed one. In the meanwhile, the silver price will take its cues from gold.
If you take a look at the developmental works happening in India and China, it is easy to understand that the demand for the metal is set to soar in the coming days. And, even if the gold prices come down, silver is set to move up as the industrial demand will witness a surge in 2010.
According to the Silver Institute Web site, a total of 888.4 million ounces of silver was produced through mining, from old silver scrap, and through government sales in 2008. Silver mine production increased by 2.5 percent in 2008, with Peru (118.3 million ounces) being the biggest silver producing country. Mexico (104.2 million ounces), China (82.8 million ounces), Australia (61.9 million ounces), and Chile (44.9 million ounces) ranked behind Peru in silver production.
In 2008, industrial applications consumed 447.2 million ounces of silver, while traditional uses—such as in jewelry, coins, and silverware—consumed 385.3 million ounces.
Diversity is silver’s primary asset. Its unique properties include beauty, strength, sensitivity to light, malleability and ductility, electrical and thermal conductivity, reflectivity and the ability to endure extreme temperature changes. These properties allow groundbreaking research to be conducted by scientists and engineers that effect [sic] the way we live..
http://www.commodityonline.com/news/2010-Year-of-Silver-24562-3-1.html
i think they are trying to use it as "paper" weight. 
