Friday, August 5, 2011
Silver outperforms gold again in the flight to safe havens, BY PETER COOPER [4th August 2011]
Reading the headlines about a new all-time high for gold north of $1,675 and you could be forgiven for thinking that gold was the star performer amongst the precious metals over the past month.
Wrong! Step forward the shiniest of metals to take a bow at $42 an ounce this morning. In the past month silver is up from $34 an ounce, a 19 per cent gain, while gold is up from $1,480, an 11 per cent increase.
Read more @ ORIGINAL SOURCE
Wednesday, August 3, 2011
White hot silver [Aug. 2, 2011, 10:32 a.m. EDT] by By John Nyaradi
BEND, Ore. (MarketWatch) — Newton’s first law of motion states that the velocity of a body remains constant unless the body is acted upon by an external force. In the arena of exchange-traded funds, sectors and ETFs with strong momentum can often continue on strong trajectories, and July’s “sector of the month” was silver, as the white metal has been white hot.
Precious metals, and silver, in particular, were the leading sector in July in response to the debt ceiling crisis and a “flight for safety” from a potential U.S. default.Up some 18% for July and approximately 29% year to date, the white metal, sometimes referred to as “poor man’s gold,” has put in an impressive performance in spite of the precipitous decline it experienced earlier this spring.
While gold gets most of the press, it’s up “only” 14% so far for 2011, and so silver has really offered “margined” returns compared to a similar investment in gold.
Monday, August 1, 2011
Stephen Leeb - Expect Silver to Trade in the Three Digits [kingworldnews.com;August 1, 2011]
When asked about silver specifically Leeb stated, “Well I think silver obviously is a precious metal. I think it probably has a history as a precious metal almost as long or maybe even longer than gold. Its ratio to gold right now is about forty to one, I think that’s extraordinarily cheap, but what people have to realize about silver and I don’t think it has dawned on people, that not only is it a precious metal, but it’s a critical and I emphasize the word ‘critical’ industrial metal.
The majority of solar panels require silver and I don’t think there is enough of it if we really start building this stuff out. I think the Chinese realize this, they are probably already accumulating silver and will continue to accelerate those efforts.
Incidentally, speaking of the Chinese and gold, Thursday’s report from Goldcorp made interesting reading. The Chairman of Goldcorp said he expected Chinese purchases of gold to exceed those of India this year, which is just extraordinary.
I would expect their purchases of silver will commensurately be even larger because they need it. They are not just buying silver because they want an alternative to the dollar, they are buying silver because they know they are going to need it desperately to build out solar energy.
So silver, yeah, pick a number, but silver is a three digit commodity there’s no doubt about that.”
Read the FULL ARTICLE
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