Silver at $40 Will Be Best 2011 Metals Bet, Standard Bank's Ikemizu Says

"Cotton alone has beaten silver in the UBS Bloomberg CMCI commodity index this year, gaining 92 percent to the metal’s 76 percent. The precious metal touched a 30-year high earlier this month to reach $30.7025 an ounce. Gold, which reached a record $1,431.25 an ounce on Dec. 7, has advanced 27 percent this year.

Federal Reserve Chairman Ben S. Bernanke spurred further gains in commodity prices, mostly denominated in U.S. dollars, when he said on Dec. 6 that the Fed may expand bond purchases beyond the $600 billion announced in November to prop up the fragile recovery in the economy.

The outlook from Ikemizu, who has traded commodities for more than 24 years and correctly forecast in June that gold will surpass $1,300, broadly concurs with the 2011 view of Deutsche Bank AG and Credit Suisse Group AG. "

Read more at Silver at $40 Will Be Best 2011 Metals Bet, Standard Bank's Ikemizu Says