Are you trying to find the latest news on silver prices? Silver prices are “rallying” to recover after a rather blue last quarter in 2011. As of the first few days of January 2012, silver price is just below $30 per troy ounce. Reuters.com reported that silver actually jumped over 2% as the week began, as if investors had “renewed appetite for riskier assets such as commodities.”
It can’t hurt that there is so much uncertainty happening in the world, particularly in world economy. The Eurozone and euro are practically collapsing because of poor performing countries. India and China are lowering their precious metal demands. For a time the American dollar was increasing in value, not because of any particular victory, but because of disaster happening in Europe. As of early January, the U.S. dollar has fallen again in value, and this is helping gold and silver to increase in price.
Furthermore, the New Year, historically speaking, does tend to bring a better price performance, just as the end of the year usually brings deceptive lows. While there is definitely optimism in the air, don’t expect the spirit to prevail. There is much worry ahead and the more worried investors become the more gold and silver price increase. Silver has that unique advantage of being both an industrial metal and an investment metal, since it is currently much less expensive than gold.
Experts are predicting that silver prices could fall further after a brief recovery (perhaps hitting the $1,700 mark or near it) but that by late 2012, it could very well hit a new peak. What about the political scene of 2012? The fact that Iran is steeped in nuclear controversy is making many people edgy, and this also tends to increase demand in gold and silver as a safe haven. Silver prices are affordable right now, meaning even low income households can afford investment.
As of late, silver price has been gaining (over two percent) so this is the ideal time to invest, especially if you’re predicting that the price is going to escalate. Buy now and you can either profit when silver does top the $40 mark again, or you can keep it for the long-term as a hedge. Precious metals do hold onto value regardless of inflation, so when you buy silver you actually convert your assets and lose virtually nothing but commission.
Why not talk to a precious metals dealer right away as the year of 2012 gets underway?