Jun 06 2008
GI quoted in MarketWatch: Silver’s more than a sparkle in investors’ eyes
GI believe all investors should have a precious metals allocation of at least 25% to silver and either buy silver outright now or should transfer from gold to silver at the earliest possible opportunity.
We believe $50 per ounce will be reached in the next 2 to 3 years creating an extremely healthy return while holding an inflation proof, hard tangible asset in your possession and or in a AAA rated government mint.
Gold Investments’ Mark O’Byrne is quoted in Myra Saefong’s Commodities Corner today in an article that shares our bullish outlook on Silver:
Silver has been notorious for moving in tandem with gold, but silver prices have yet to trade anywhere near their record level.
“Silver remains the most undervalued of all the commodities and all the precious metals and at the very least, the $50 per ounce nominal high of 1980 is very likely to be reached in the next 2 to 3 years,” said Mark O’Byrne, a director at Gold and Silver Investments Ltd.
“Supplies are rising but only incrementally and very marginally, especially in light of the huge demand created by the new ETFs and huge demand for physical silver internationally,” said O’Byrne, who’s based in Dublin.
Silver is also used for industrial purposes on a huge scale — akin to oil, said O’Byrne, and that means much of the above-ground supply of silver has been used up in the last 100 years.
“It is estimated that 95% of the silver ever mined has been consumed by the global photography, technology, medical, defense and electronic industries,” said O’Byrne. “This silver is gone forever.”
“It is extremely rare to find a good service, investment or commodity that is price inelastic in both supply and demand,”
Read the full article here.
This article is going against the grain because s I usually see gold as the best investment but coming from another gold investment analyst, telling people to invest in silver warrents a closer look. Good article, thanks!