JAMES BURBAGE, III, PRESIDENT, LLOYDS ASSET MANAGEMENT PROVIDES MARKET COMMENTARY & FORECASTS SILVER POSITION
Jupiter, Florida…October 14th 2008….For private investors large and small, as well as institutions, precious metals are, and continues to be the safe haven for investors in turbulent financial and uncertain national and geo-political times. “Nationally and globally speaking, the markets have never been more ripe or primed for investors seeking a safe place for their money that supports a historical track record of steady and significant returns in both the near and long term,” says James Burbage, III, President of Lloyds Asset Management, a Precious Metals Broker/Dealer in Jupiter, Florida, “and silver is particularly positioned to make a positive move.”
“At this point silver is a sleeping giant,” says Burbage, whose firm represents small and large clients as well as institutions globally, “the market has created one of the biggest buying opportunities ever witnessed by most savvy precious metals investors.” As evidence, Burbage points to July 16th when silver was tickling 21-year highs of $19.48 oz. “Now more than ever before in history the time is right to prosper from silver which provides excellent portfolio protection from failing “paper assets,” says Burbage whose family lineage dates back to Elizabethan James Burbage, known as the creator of modern-day stage theatre.
A close look at the past few months explains the retracement of silver to its present approximate $11 position. As the stock market began to tumble due to the collapse of Fannie Mae and Freddie Mac, triggering the frightening and immediate unfathomable bailout of AIG and the closing of the goliath financial services institution, Lehman Brothers as well as a handful of enormous commercial banks around the country, investors were forced to sell off assets to cover margin calls. The sell-off included silver positions, where great stores of cash could be tapped to cover margin calls; with the dumping of silver on the market, the price of silver dropped.
According to Burbage: “Precious metals are steady to a shade higher this morning after last Fridays margin- induced sell off. There was a buzz on the trading floor that a couple of unnamed hedge funds were forced to liquidate massive positions in precious metals in a scramble to meet margin calls for deteriorated stock positions. The Euro snapped back over the weekend after the European Finance Minister announced that Europe has agreed to a history making bail out bill for their ailing financial institutions which rivals that in the US. The Euro jumped to $1.51 and the US dollar to $1.38.”
Other indicators for the presumptive rise in silver can be seen in the industrial market and the need for the use of silver by large corporations. As an example, Burbage points to multinational conglomerates such as Kodak and LG electronics that have long positions in silver as a necessity for its use in the production of their commercial consumer products.
Now that the silver market has stabilized at around the $11 mark investors have a rare opportunity to jump back in on this historically valuable asset, especially now that the stock market has seen a radical upswing in just the past week. Burbage sees silver poised to make a run to $16 and possibly as high as $24 by the end of the first quarter ‘09.
About James Burbage III & Lloyds Asset Management
James Burbage III, is the direct descendant of the Elizabethan James Burbage who is regarded as the father and inventor of stage theatre. Now, more than 400 years later, James Burbage III continues his family’s legacy as an entrepreneur and visionary. Applying the blessing of his extraordinary lineage with his passion and drive for the financial services, investment and precious metals industry, Mr. Burbage, III has created a firm whose name is synonymous with the highest degree of ethics and professionalism in the precious metals industry. With clients across the country, as well as internationally, Lloyds Asset Management has the experience, financial experts and state-of-the-art technology to provide seasoned counsel for the broad spectrum of investors — from the first-time gold or silver buyer, to the savvy precious metal investor or even institutions.
Editors Note: James Burbage is available for media commentary on the financial markets, offering general market overview, with particular expertise in the Precious Metals arena.
Posted by Lloyds Asset – Precious Metals Asset Management — Silver/Precious Metals: James Burbage, III, President of Lloyds Asset Management, Makes Third Straight Silver Call with Most Recent Recommendation Achieving a 22% Price Increase on July 13th, 2009.
[...] Shakespeare, predicated that prior to the end of the first quarter of 2009, silver would hit $16; his call was within five percent of his predication when silver hit $14.63 with ten days remaining in the first quarter of 2009. On October 14th, when [...]