News Header

 

Prediction: Precious metals' value will continue increasing

Release Date: 
Thursday, November 18, 2010

Silver prices could rise to $30 per troy ounce due to investment demand, according to a GFMS Ltd. report cited by Bloomberg.

The London-based research consultancy released a report stating average prices for silver in 2010 may shoot up to and average $28 per troy ounce in 2011. Gold rose last week to record prices as Greece and Ireland struggled with banks teetering on the brink of bankruptcy as the nations face formidable amounts of debt.

"The main driver of the price remains investment demand," according to the GFMS report.

Thus far this year, silver's price has increased 52 percent to $25.60 as of Wednesday while spot gold prices have climbed 22 percent in New York.  The precious metal is moving toward its tenth straight year of annual gains. In London on November 9, gold struck its all-time nominal high for spot prices at $1,424.30 per troy ounce, the same date spot prices for silver notched its 30-year high of $28.55.

"Investors will be of a mood to absorb the resultant, growing surplus as key supports such as ultra-low interest rates, a weakening dollar and a buoyant gold market should remain with us," according to GFMS.

This news article is independently provided by Brafton and does not represent the views or opinions of Goldline International, Inc. Although the information in this news alert has been obtained from sources believed to be reliable, Goldline does not guar­antee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

News Footer

 

†This material has been prepared for private use. Although the information in this commentary has been obtained from sources believed to be reliable, Goldline does not guarantee its accuracy and such information may be incomplete or condensed. The opinions expressed are subject to change without notice.

You should review Goldine's Account Agreement along with our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider ®, prior to making your purchase. Goldline has a spread or price difference between our selling price, called the "ask", and our buy-back price, called the "bid". That spread varies depending on coin or bar you acquire. Spreads on 1 oz bullion coins, 90% silver dimes and quarters, and one ounce and larger bullion bars are 13%. All other coins have a spread of 28%. There is also a 1% liquidation fee when you sell your coins back to Goldline. The market must go up enough to overcome this spread before an actual profit is achieved. Precious metals and rare coins can increase or decrease in value. Past performance does not guarantee future results. Coins are a long-term, three- to five-year, preferably five- to ten-year investment. We believe precious metals are suitable for 5% to 20% of the average investment portfolio though others may recommend a different percentage.

To receive free information package on gold and precious metals investing, call Goldline at 1-800-963-9798.