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According to the report of Mitchell Krebs, CEO of Couer d'Alene Mines Corp, which is the largest silver miner in the United States, the prices on silver will continue to climb up because of economic ambiguity and production turn down. Krebs said “As long as we see things like the EU (Euro zone currency turmoil) and as long as we run the kind of deficits here, neither of which we see being cleaned up in the short-term, those two things will continue to be positive backdrops for gold and silver”. He added that silver prices will go more volatile than any other metals, especially gold because silver is marketed on small sector as compared with gold. The prices on silver will rise ahead in percentage terms more than its counterpart, gold. Hence, it will see the short-term growth rather than the larger gold market. With a subsequent rise in COMEX silver to a record of $ 50/oz in May 2011, its price has faced a huge drop, which is trading around $33 levels with a decline of up to 30%. Hence, silver price rose up in the earlier months of 2011, but it goes on altering because of fluctuation in the commodity market. As a result of the European debt crisis, this got a lot of media attention in Greece, and spread to the regions of Italy and Spain. Spanish and Italian bond yields are on record highs, another reason may be optimistic nature of the macro-economic fundamentals. Italy is also the world’s 3rd largest bond market. Overall, Italy has learned from the Greek default, which could be absorbed by the EU. The Italian debt is something that the EU simply cannot solve. If the situation prevails further, then the prices on silver will rise in the future. According to the forecast of John Embry, Sprott Asset Management, silver price will climb up to $70/oz in the next two months. Hence, the investment in silver will be good option for those who are looking for more returns. Silver is a significant metal as per the market is concerned, a small alteration in its price has huge impact on the global market. With above statistics, it is a good possibility for investors to look for ample profits by putting their money in silver. The prices of silver is about to rise. Therefore, you must take a wise decision before it is too late and invest in silver as per your capability to gain good profits in future. The columnist is an accomplished journalist in silver market, mining & stocks, who regularly writes articles related to silver prices, silver spot price including tips on investment in silver. Please visit silverprices.com for more details.
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