Silver Prices
iShares SILVER TRUST ETF
NYSE: SLV
Jun 19 12:20 PM
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Last price20.99Prev Close20.88
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Change0.11% Change0.5%
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Open21.00Volume38,665,821
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Day Low20.95Day High21.05
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Bid21.00Ask20.99
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52 Wk Low20.8652 Wk High33.93
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Market Cap82,029ExchangeNYSE
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2013 Silver Price Forecast: Silver Will Perform Like Gold on Steroids
This past March, I asked a highly successful investment advisor what he thought about gold. Since he deals almost exclusively with very high net-worth individuals, his point of view was especially intriguing.
He confided to me that many of his clients had been asking for gold and gold-related investments over the past few years. I can't say that I was surprised.
But what he told me next simply shocked me.
"Gold's much too volatile, it's too risky", he said. "Sure it's up, but I try to discourage my clients from investing in it."
It simply floored me that he thought gold was too volatile. Gold is only up 580% since it bottomed in 2001, without a single losing year to date.
That's not something you can say about the stock market or any other type of investment.
I can hardly imagine what he must think of silver, as silver prices are up by 725% since 2001.
Today, silver is trading around $34, but our 2013 silver price forecast now has the shiny metal going much, much higher.
What will power that rise?
Since it's slaved to its richer cousin, all the fundamentals for higher gold would apply.
I wrote about them yesterday in my 2013 gold price forecast.
As history has shown, silver moves almost in sync with gold, but exaggerates its movements, both on the up and down sides. That's why I like to think of silver as "gold on steroids".
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Why to Keep Betting on Higher Silver Prices
As November comes to an end, silver prices continue to hold their luster even in this down week.
On Tuesday, spot silver increased to $34.26 an ounce, its greatest level since the middle of October, before it dropped to $33.76.
Silver traders have hit the sidelines as economic news such as fiscal cliff discussions, the Greek bailout and an appreciating U.S. dollar have been a drag on the white metal.
James Steel, HSBC metal analyst said to Reuters of the current prices, "We believe gold and silver prices will tend towards consolidation, as investors await further developments on the U.S. fiscal cliff negotiations."
But don't worry silver bulls, there's still enough good news to keep you happy.
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Why to Expect Higher Silver Prices Before 2013
As the week comes to an end, Comex December silver prices are trading at $32.45, a slight decline from yesterday. For the week, prices are off about 1%.
Recent economic data and concerning news from abroad have hit precious metals this week, leading to their declines.
Gold has been stealing headlines as fear surrounding the fiscal cliff drives investors to seek safer assets. Should Congress and the president not reach an agreement by early next year, this will provide an opportunity for gold to shine.
But the white metal, with its volatility and recent high prices, can hold its own and also has the potential to increase in the short-term due to a few reasons.
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Three Ways to Invest in Silver Before Prices Take Off
It's been a volatile week, but silver prices are expected to rise in U.S. President Barack Obama's second term.
Silver futures prices ended the week with a 5.7% gain. Silver for December delivery rose 36 cents, or 1.1%, on Friday to settle at $32.60 an ounce.
With the fiscal cliff the next major topic for Washington to tackle, investors are pushing into safe havens like silver and gold to balance market uncertainty.
Also with President Obama in office, U.S. Federal Reserve Chairman Ben Bernanke and his easy money policies will hurt U.S. dollar value for at least another year.
"Since Obama was elected in 2008, gold is up 116% and silver us up a whopping 198%," saidMoney MorningGlobal Resources Specialist Peter Krauth. "Honestly, I expect a similar performance could well be enjoyed over the next four years."
With that in mind, here are three ways to invest in silver with prices on the rise.
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Why Silver Prices in 2013 Will Continue to Perform
If asked to name the top performing commodity of the past decade, not many would answer silver because of its notorious volatility.
Yet, according to Lloyds TSB, silver prices have delivered the best gains since 2002.
Lloyds data shows that the shiny metal soared 572% over the past decade, beating gold's rise of 428%, which was second best among commodities.
Lloyds said silver beat gold because "[I]n addition to being perceived as a safe haven investment, high demand for industrial uses has also contributed to the strong rise in the price of silver."
The key question for precious metals investors is whether silver will continue to be a good performer in 2013.
Money Morning's Global Resource Specialist Peter Krauth thinks so. He forecasts that silver prices will hit "north of $60 per ounce" by spring.
If his forecast is on target, it bodes well for both holders of silver bullion and coins as well as for holders of ETFs such as the iShares Silver Trust (NYSE Arca: SLV).
Here are five key factors that show why Krauth's forecast for silver prices in 2013 could be right on the money.
Silver Prices in 2013: New Industrial Uses
One positive for silver has to be the aforementioned industrial uses.
At last month's Denver Gold Forum, the CEO of silver producer Hecla Mining (NYSE: HL) Phil Baker made an interesting observation.
He said there was a parallel to what happened to silver usage at the turn of the 20th century to what is happening today. At that time, photography became a major driver of demand of the silver market.
This time though Baker believes it will not be one industry solely driving demand, but a myriad of new users of silver looking to take advantage of the metal's unique properties (such as electrical conductivity) in the electronics and medical fields among others.
Silver's expanding usage in a large number of industries may help to offset the general weakness in the global economy.
Investment Demand for Silver
Another factor favoring silver prices is the continued investment demand for the precious metal from the average person around the world, due in large part to central bank policies.
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This News Out of China Supports Higher Silver Prices in 2013
A new report this week by the Beijing Antaike Information Development Co, an information center on the Chinese metals and industries markets, provided some good news for silver prices.
According to the company, analysts forecast China's silver demand to increase as much as 10% in 2013 from investors looking to preserve their wealth.
In an Oct. 22 Bloomberg News interview, Shi Heqing, an analyst at Beijing Antaike, said silver's demand could increase to 7,700 metric tons next year after incurring a 6% to 8% rise in 2012.
Where's the demand for silver coming from? Around 33% is from jewelry and coins, with the remainder in industrial use for photography, solar and electrical appliances, said Antaike analysts.
This is a record level for Chinese silver demand - and good news for silver investors since China is the world's second-biggest user of the metal.
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Silver Prices: $50 by 2013?
Silver prices kicked off October reaching a six-month high near $35 an ounce as investor interest has been rekindled in the white metal.
Renewed investor affection for the precious metal in the past few months is in sharp contrast to investor interest in silver over the last year and a half. Many precious metals investors had largely stayed away from silver in that time frame after some had got caught up in its volatility. Silver had touched a 30-year high in April 2011 before plunging 35% in just a few short weeks.
Silver has climbed 35% from its June low just above the $26 an ounce level. This performance made it the top performing star in the commodity universe for the third quarter, with hints of more fireworks to come.
Now it looks as though silver prices will tear into the $40-plus range, nearing $50 an ounce before 2013.
Money Morning Global Resources Specialist Peter Krauth predicts silver prices will reach $48 - $49 by year's end, and hit "north of $60" by spring.
That's why he refers to the white metal as "gold on steroids."
Part of the answer to why silver has done so well recently is the launching of QE3 by the U.S. Federal Reserve. Silver rose 53% from December 2008 through March 2010 after QE1. It climbed 24% after QE2 in the period ending in June 2011. Now we have QE3.....
As Michael Cuggino, who manages about $17 billion at Pacific Heights Asset Management, told Bloomberg News, "In this accommodative monetary policy scenario, silver seems to be trading as an alternative currency."
But the real reason behind the rise in the price of silver goes deeper than just QE3 - or, as some in the market jokingly call it, QE Infinity.
Here are some of the other reasons the price of silver is headed to $50 by 2013.
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Silver Prices Give Shiny Future to this Mining Stock
Silver prices enjoyed a bullish third quarter and will keep the rally going through the end of 2012.
Reaping the benefits from this precious metal's increase has been silver exchange-traded funds (ETFs) and silver mining companies.
One mining company, Silver Wheaton Corp. (NYSE: SLW), is clearly riding high on these good times.
Back in July as silver was making its ascent, Silver Wheaton sat at $25. Today (Tuesday) it is trading at $39.12, with year-to-dates gains exceeding 34%.
Don't worry investors, you haven't missed out: It also has a bright future.
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"It's Like Gold On Steroids"
Gold remains the favorite of precious metal investors, but silver is the metal you want to double down on right now.
After wallowing around in the mid-20s for months, silver prices have shot back over $30 an ounce.
And thanks to some wildly misguided government policies, silver could soon blow through its 2011 high of $50 an ounce, giving investors an easy double.
Even better, thanks to three huge catalysts, silver is primed to make a huge run-up over the next 12-24 months. It will be like investing in "gold on steroids."
Are you ready for $250 silver? Or more to the point, are you ready to profit from it?
In a moment, you'll see how a simple move can help you reap extraordinary profit from silver.
But first, let me show you the three catalysts that will propel silver much, much higher over the coming months and years...
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Interest from India Will Keep Silver Prices Rising
It was a bullish third quarter for silver prices as the white metal rose 25%.
Of late, silver has been outperforming gold, trading with greater volatility and producing healthy returns for silver exchange-traded funds (ETFs).
While investors who typically favor gold investments have started eyeing up silver, they're joined by another classic gold lover: India.
India sees silver as an undervalued investment with strong upside potential. This bullish view comes from a country that accounts for 12.6% of total world-wide silver demand, according to the precious-metals consulting firm GFMS.
With a weak Indian rupee, gold prices (in rupees) have reached an all-time high in 2012, while silver prices have not surpassed their April 2011 record. Rupee-denominated silver has been quoted around 20% lower than its record, according to FX Street.
In September, silver futures contract volume traded on India's largest commodity exchange, the Multi Commodity Exchange, rose 30% as compared to July's numbers.
Meanwhile, gold futures volume declined 10% in the same time frame.
Silver dealers in India said most return-focused investors have chosen to hold on to their purchases in anticipation of rising prices over the next three to six months.
Indian investors also have slowed silver buying because the two-week period that ends Oct. 15 is considered inauspicious, but are expected to resume their purchases as soon as the period ends, according to The Wall Street Journal.
Indian silver demand will pick up after that as the country prepares for the Hindu festival of lights, known as Diwali, on Nov. 13.
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