Turkey top envoy goes to Niger in bid to secure uranium supplies
The trip comes after Niger’s military government withdrew mining rights from Canadian and French companies to develop uranium deposits.
Commodity Online reports it will be investment demand that will likely drive up the price of silver in 2012. The same macroeconomic factors that impact on gold, also affect silver. As ‘poor man’s gold’ silver offers a more accessible entry point into precious metals investment.
China’s leading market for precious metals trading on Friday increased its silver margin requirements to a fresh high amid heightened volatility in precious metals. Silver on Monday shed $1.30, or 4%, to $31.12 an ounce. Silver prices so far this year have averaged $35.70, a rise of 88% year-on-year, but is down from a record high of $48.61 at the end of April.
MINING.com reported on Friday silver prices were expected to exceed $50/oz by the end of 2012, Thomson Reuters GFMS reported in its interim silver market review on the back of increased investment demand.
Commodity Online quotes Bill Hionas, CEO of Pan American Metals of Miami said, “It is possible that silver could outperform gold next year, gold has dominated the headlines since silver’s dramatic fall in April but silver has been holding its own for some time now and many market experts feel it will take off in 2012.”
Comments
John
Silver about to take off?? WOW!! HURRY!!!