silver to lap gold - permanently!
http://www.miningnews.net/StoryView.asp?StoryID=34560
Silver squeeze speculated
Monday, February 14, 2005 SILVER has again emerged as the star performer among the precious metals, triggering concern that a speculative squeeze play could be underway as hedge funds attempt to manipulate the market.
In New York on Friday, silver rose US24.5c to US$7.21 per ounce, its highest price since early December, and a second consecutive daily jump with the 3.5% rise taking the two-day increase to more than US50c/oz.
On Thursday, silver rose by US35c, or 5%, to US$6.96 with analysts confidently predicting that it was a one-off event which would end in Friday trade as profit-takers moved in.
That did not happen with the latest predictions being for a prolonged silver rally.
James Moore from TheBullionDesk.com told Reuters that with gold and base metals "looking steady" at the moment and the dollar weak, it "seems silver could extend its gains in the coming sessions".
Most close observers of the precious metals market were dumbfounded by the strong performance of silver at a time when gold has been flat, a pointer to silver being the target of a squeeze play.
