Is 2011 the “year of silver?” Well if it isn’t it should be. I am coining this phrase, putting it out there for all to use. Copy it, repost it, and have a good time with it. 2011 truly is the year of silver.
The price of silver has changed drastically over the last few months, as the white metal has really shown how volatile it can really be. 2011 still has several more months left, and many are speculating what exactly the price of silver is going to do.
Following Gold?
There are a few different ways to look at this. If you come at it from the point of view that silver prices are going to follow what gold does, then you really haven’t been paying attention to the markets lately, as we can see that silver is breaking away from gold a bit because of the industrial and health demand that comes with it.
Industrial Demand?
That leads me to my next point. You can estimate what the price of silver will be in the next few months from this angle as well (though if you enjoy going out and making random estimates, then silver futures are exactly what you want to get into). The sheer demand that industries and health care have for it is staggering. So much so, that silver is being used faster than it can be mined. If you do look at it this way, then it would seem the price of silver is going to skyrocket in the next few months. While this may be true, it is still only one way to look at it.
Mining Estimates?
As you can see form my last few posts and excerpts, mining companies are starting to buy and mine silver populated areas all over the world. As a matter of fact, several mining companies have put out numbers that are staggering, as far as the amount of silver that they intend to mine is. If you come at it at this angle, then you may get the feeling that there is about to be plenty of silver, and that the price may drop.
Economy?
Truth be told, this is probably the best place to base your thoughts on. The economy is in the toilet, no matter how you look at it. Not only is America’s economy in the toilet, but much of the rest of the world’s economy is in the toilet as well. This leads us to believe that silver prices are only going to go up. Why? Because investors are looking for a safe haven for their money because nothing else is worth investing in right now. Silver is a great place to put money if you want it safe, as is gold! Since there is no end in sight for our economic woes, I tend to lean on the fact that silver isn’t going to go down in price too much.
What Are Analysts Saying?
The consensus by most of the “expert analysts” is that silver is going to be a huge asset for the foreseeable future, both for investors and definitely for industries. As a matter of fact, several analysts are saying that silver could hit $70 per ounce by March of 2012. This is just speculation, but based on what silver prices have done in 2011 up to this point, that prediction is not too far-fetched.
The point is this. To really understand where silver is going from here, you need to look at a number of factors, as silver has become more of an independent metal than it ever has been. I will say this, no matter what angles you choose to use when deciding if you want to invest in silver, all of them definitely lead to one place: silver is here to stay, and silver prices are going to continue to perform well!
Right now is a great time to get yourself invested in some silver. There are several options for investing in silver available, with the most popular being Silver Bars and Coins.
Again, I do believe that 2011 is the year of silver. Not only that, but I believe that silver will continue to perform well and act as a valuable asset to millions of investors for the next few years as we move forward and try to get America back to a AAA credit rating.