Financial Post: Eric Lam December 21, 2010 – 1:10 pm
If the past year has been a good one for gold, then it’s been a great one for silver.
Since August alone, silver prices have jumped more than 60%, crossing the $30 an ounce threshold. Year to date, the price of silver has averaged $19.86/oz, a 35% increase on the 2009 average.
“With the drivers for precious metals remaining firmly in place, we are increasing our long-term price assumptions for silver bullion to $17/oz from $14/oz,” the Canada research team from Raymond James said in a note. “The current key drivers behind the rise in silver are similar to that for gold, including quantitative easing I, II, likely III and possibly IV, paper currency debasement, sovereign debt issues, concerns over future inflation and strong investment demand, particularly from emerging markets.” LINK...
