LOWEST BUYING PRICE FOR SILVER IN MONTHS
New Mark May Go Well Above $17.40
There’s been a great deal of pressure on silver lately, sinking it down to near $14, the lowest it has been in months. Interestingly however, silver predictions on the wire for the next 120 days remain remarkably optimistic and Lloyds Asset Management, known for its on-the-mark predictions in silver and other precious metals, has joined in the optimism and predicts silver will trade above $17.40 by the first of May.
SILVER OPTIMISM REMAINS STRONG
CEO James Burbage III sees a new support for silver forming as an opportunity for short-term chipping and putting during the market consolidation. “It looks to me that this information on the dollar rally shows a new support line that has been placed for silver,” Burbage said. “We see an opportunity not only for some short term chipping and putting as the market consolidates between $21 and $16 but also the possibility for the shorts to shake out the weaker positions; the small retail clients.”
Large short traders have capitalized on the market downturn as many stop loss-orders were automatically executed, and smaller investors sold entire positions. “With the consolidation behind us now, the market can be witnessed making a healthy correction that may test the recent high from March, 2008,” claimed Burbage.
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The history of precious metals stands but new historic strides are being made with gold and silver. With inflation still very low and prices predicted to soar, silver is making a quicker than anticipated run at the recent high of $21.34 per ounce in March, 2008, and some analysts are now predicting a new high of $23 by year’s end.
Gold — As a type of precious metal, approximately 150,000 tons have been turned out since the dawn of history, and its rarity is high. With the present annual mining amount at a little under 2500 tons, countries such as the Republic of South Africa, the United States, Australia, and China are chief producing countries.



