Market Leader informed
Experts suppose that next year the upward tendency at the markets of precious metals will continue.
The price growth will concern both jewelry and industrial metals. In particular, silver may gain in value up to 17%, reaching $30 per troy ounce. This year’s consumer demand has already reached its all-time record, making up 210 million ounces, which is 5% more than last year’s volume. In 2010 jewelers bought 10% more silver while the industry increased its consumption of the precious metal by 18% as compared to 2009.
According to the forecasts made by Masterforex-V analysts, investing in silver may turn out to be more profitable than investing in gold, shares and US treasury bonds. Since the beginning of 2010 the price on silver has gained 46%, reaching the record level of $25 per troy ounce (last seen in 1980) while gold has increased in value by 24%. So we can see that currently silver has more potential to bring profit.
“Silver has always been quite popular with investors around the world”, chief economist at MigBank Howard Friend says. Sometimes silver can yield more than gold.
The expert in precious metals from MigBank reports that next year the volume of investments in silver may exceed the volume of investments in gold, shares and US treasuries. The average price of silver is expected to reach $28. Masterforex-V Academy experts say that gold will probably exceed $30.
At this point silver is in quite a unique position, which may help silver continue its growth in 2011. It is confirmed by the fact that the value of silver (as well as the value of gold) remains positive.
If to consider the situation in terms of average prices, last year a troy ounce of silver cost $14.70 while this year it is $19.94. For 2011 experts predict $28.
On Wednesday there was silver trading (instant delivery), which ended up with $25.60 per ounce.
Traders from the Department of studying Masterforex-V trading system note that the silver price has almost reached the psychological level of $30 per ounce after forming a D1 FZR* within the framework of wave C( C) W1.
Now there is a downward H8 wave already formed and acting as a retracement against the previous bullish movement. The wave, which is being shaped at the moment to act as the “Moment of Truth by MF”, will prompt the forthcoming situation at the market: either there is a strong breakout of another historical high (in that case we’ll see it at the end of 2010) or the price gets over $25.01 to start developing a complex correction.
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