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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