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It looks like the sun is about to shine on silver. Chatter about the yellow metal's silver sister has definitely stepped over the last few weeks as many believe spot silver is about to skyrocket. One prediction is for $25 an ounce by the end of 2010. That prediction is made by David Levenstein, someone I have come to respect as having deep insight into the precious metals markets.
The reasons for such optimism are many. As I have thrown my opinion into the pool, I believe silver has simply become the easiest of most metals to add to diversified savings and retirement accounts. With Gold over $1250 an ounce, it's just simply easier to add a few silver coins to the balance.
Some point to the historic gold silver ratio of 15 ounces silver per ounce of gold and say that at the current rate of 65:1, gold either has to fall dramatically or silver has to rise dramatically to reach the 15:1 mark.
Today Levenstein reports that Hong Kong based trader Dick Poon, says the growing solar industry will consume 1500 tonnes of silver each year.
So, while gold demand is rising as gold takes on more of a currency role, silver may be playing catch-up as both an investment safe-haven play and as industrial metal whose demand is about to skyrocket. If there is any truth to rumors that silver supplies on the Comex are dangeraously low, look for this growing demand to drive the silver price skyward.
Maybe that's why American Silver Eagle Coins are in such short supply.
As always, to learn more visit LearCapital.com for all your precious metals needs.
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