Silver’s rally may be far from over: Commodities research firm CPM Group says silver prices could reach record highs over the next decade.
According to CPM’s Silver Long-Term Outlook, published this week, a medium-term decline could lead to long-term rise, MarketWatch reports.
In an interview with Kitco News, commodities analyst with CPM Group Erica Rannestad said that “after a couple of years of price consolidation, we do expect investors to come back into the market with renewed interest.”
One of the big driving forces will be industrial demand, MarketWatch notes. A supply drop should also boost prices.
Economic weakness has been dragging down demand for the precious metal but as the global economy improves, so will demand.
But over the next few years, analysts predict a tough market – demand is expected to drop by half over the next few years, Kitco reports.
The silver spot price has lost 26% year-to-date, and was last trading at $21.98.
10 Comments
Mark Marquis
There is NO replacement for Silver, Gold , Platinum…..etc. Real estate WILL be taxed to death and you cannot move it beyond the taxman and or politicians, and considering imminent domain, taxation and regulation all real estate ultimately belongs to the Federal Government which makes you at best a ” caretaker” with the illusion of ownership. A fools paradise if you think about it. Metal can be spirited out of the country and sold with “0” tax liability, and that makes it your best bet at preserving your wealth against the Communists.
kenn
I’m puzzled that most commentators mention “years” at the current price range. The 2011 price run up took less than 6 months to peak. AGQ went from $20-178 in
that time. Given that silver is now at or below production cost, physical is being
bought up in Asia, Comex at its lowest point in years, it seems like a
parabolic move could happen any time.
sailormac
Silver expected to reach record highs over next decade
No it won’t – and my statement has the same validity as the one above
EZStreet
No it doesn’t, your statement means absolutely nothing because you have
no idea why! If you did you would have backed it up. The U.S. dollar is going to erode very quickly. Do you really think the rest of the world will want the U.S. dollar after they print 85 billion repeatedly for Q.E. Speaking of which, why do you think they keep doing Q.E. Here’s a little secret…Because if they don’t the U.S. economy will collapse and they really have no idea what to do about it other than to lie to the people and keep repeating the same mistake …over and over and over again….That’s why precious metals will go through the roof…..because it’s the only real money left…………………
Jim
Sorry to disappoint the inflation theorists but the good old greenback will not fall apart, just the opposite in fact! While all those hard working people want what we have they do not want what they have. In other words, despite the attempts of Wall Street and out of control bi-partisanship in Washington the U.S.$ is still the premiere currency for flight to safety capital movements, and likely always will be. Can you imagine investing or hiding your money in China or Russia? The U.S. is also the only market big enough to absorb the immense amounts of money being generated in profits that would cause harmful inflation in China, Russia or other BRIC nation.
The greenback is a safe haven currency because no other nation offers the same free political environment and has the size to accomplish the task of absorbing those profits and that’s all there is to it.
As for silver or gold a little couldn’t hurt.
BG
people are crazy to deal with the US, they are broke, the poorest country in the world, they are in war with everyone to steal their oil/gold, infrastructures and to create jobs so that they can look after 300 million+ people by taking from everyone else, they think they are the centre of the universe, they should travel more and learn other cultures/languages, every country that backed up the US is going broke, look at europe because of the fake real estate business and banks that helped the US, that country should be trading by it self and leaving everyone else alone.There is more fraud/violence and killing there then any other country so why should anyone repeat this senario or partner up with that? it s a crazy culture and one way in business with more then half of the population brokers so call working (Skype and google is their office) honestly…..gold and silver is the best investment.
countries backed by gold like Switzerland, Canada, Australia and Singapore are all rich and don’t have this bullshit…..
joe
Australia just increased its debt ceiling from 2,000,000,000,000 to 5,000,000,000,000. This means you will not hear about it each year in the news like in the U.S.
This is bad.
The debt will increase silently with the public asleep.
BG
to print money you need gold or silver (any currency) so it s the mother of currency so why worry about gold and silver……
AllKnowing1
Dang EZ , I guess it looks like you are flat out wring! You may want
To revisit your theories…
AllKnowing1
That’s wrong…lol