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High Hopes for Silver in 2008
January 04, 2008

Some Expect High Prices for Silver in 2008

At least one forecaster, John Embry, with Toronto based Sprott Asset Management, is predicting colossal gains for spot silver in 2008. He thinks circumstances are right for a near doubling in value for the most accessible precious metal.

Embry admits that the market seems unaware of what he sees as significant indicators. In reality, I think most traders are quite aware of the dive of the dollar. The difference is that Embry is expecting a total debasement, while most others expect some form of rebound as the new year progresses.

Any way you look at it, I think volatile shifts up and down for the next few months in all the precious metals can be expected. Keep an eye on currencies and major commodities such as oil also, as they will have direct and opposite relationships with gold and silver prices.

Expect to hear a lot from both the Gold-Bug and unemployment figures on the rise there is no reason to expect people to shy away from gold and silver just yet.

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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