"Silver Prices to Hit New Highs in 2010"
From Mineweb.com:
In this report, Marc Davis, editor of Business News Wire, interviewed Chintan Parikh, a commodity analyst at the CPM Group (a New York-based commodities research, consulting, asset management and investment banking organization) on the trend of silver price.
Parikh is quoted, "Prices may spike as high as $25."
He states that silver is a precious metal that offers a safe haven in times of economic upheaval and at the same time, it has the potential for significant investment returns for investors.
He also said, “Silver is a unique metal that wins whether the economy is going well or is in bad shape," he says. "In the latter, the investor buys it as a hedge against the downturn in the economy and the markets. And if the economy improves, then the industrial demand increases."
He observed that the global electronics had started to replenish severely depleted inventories recently. Thus he reckoned higher silver prices would be driven by the demand from the global electronics industry, the water purification industry as well as ever-expanding industrial uses for silver.
"It is becoming an increasingly industrial metal and novel new uses will also likely assist the recovery in silver's demand." Hence he remains bullish on silver prices all the way into 2010.
Check out this article at www.mineweb.com/mineweb/view/mineweb/en/page32