Silver

Silver Prices Today Have Ben Bernanke to Thank

Silver Spot Prices per Ounce

Thanks to that "party animal" Ben Bernanke, silver prices today are enjoying a nice bounce.

That's because the U.S. Federal Reserve chairman, along with the other members at the Federal Open Market Committee (FOMC) meeting yesterday, decided to keep the quantitative easing (QE3) flowing steady with $85 billion of bond buying per month.

After the Fed announcement, silver prices rallied by 5.5% to more than $23 an ounce. That's the precious metal's biggest one-day gain since June 28.

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Why Silver and Gold Prices Are Falling

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Metals started the week in the red, leading investors to ask why silver and gold prices are falling today. Money Morning Capital Wave Strategist Shah Gilani joined FOX Business' "Varney & Co." to answer that question.

He told host Stuart Varney about the big trading move that pushed metals down today. He also explained why he would keep buying gold.

Shah also recommended a stock that pays a 10% dividend yield and says the stock will be "safe" as long as the housing market remains stable.

Hear Shah's recommendation and his thoughts on why silver and gold prices are falling in the following video.

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Will Silver Prices Keep Falling?

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As gold prices plummeted $200 in two days, silver prices fell about 14%, or $4, to below $24 an ounce.

Our Money Morning resources expert Peter Krauth explained the reasons behind gold's fall, so we went back to him to find out the deal with silver prices. Will silver keep falling? Is it a buy at the lower levels?

Here's what Krauth offered for investors.

Money Morning Staff: Peter, are silver prices falling because gold fell, or are there other factors at play here?

Peter Krauth: There are two factors.The first is that silver follows gold rather closely, and usually amplifies its behavior, both up and down. However, it can and does sometimes detach from gold and behave independently, but this is more of a rarity.

The second is silver's industrial demand.

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How to Buy Silver: The Best is Yet to Come in 2013

While gold, with its sky-high prices, gets most of the media attention, investors should be just as interested in how to buy silver.

Silver turned in a solid performance in the second half of 2012, rising from a June 28 low of $26.13 an ounce to its recent reading above $33.00. And, to steal a line from poet Robert Browning (or, if you prefer, Frank Sinatra), "the best is yet to come."

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It's Not Just Investor Demand Pushing Silver Prices Higher

You've heard that silver prices are expected to increase amid growing demand for the precious metal, as investors worried about central bank and government spending policies seek alternatives to stocks.

Money Morning Global Resources Specialist Peter Krauth said in his 2013 silver price forecast that the white metal, which closed at nearly $33 an ounce Wednesday, could hit $54 an ounce next year.

In fact, Krauth said he likes to think of silver as "gold on steroids."

But investors have largely overlooked another key factor that will contribute to higher silver prices over the next couple of years.

That's global industrial demand for silver, which will start to take off in 2013.

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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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