Well, there we have it... silver is not going to bottom out. Silver is expected to remain high for 10 years according to this New York-based metals consultancy the CPM Group.
Silver Investment to ?Support High Prices? for 10 Years - 10th December 2010
THE PRICE of physical Silver Bullion is set ?to remain at historically high levels over the next ten years,? according to the new long-term outlook from New York-based metals consultancy the CPM Group.
Strong Silver Investment demand is now ?the single most important factor in influencing? the Silver Price, says CPM in its 224-page study, underpinning a decade of high prices ahead.
?Investors who view silver as a safe haven asset are expected to continue buying large amounts...over the next couple of years as uncertainty regarding global economic growth, financial market instability, and volatility in major currency markets persist.
?Silver Prices are [then] expected to weaken as these concerns recede later in the decade,? sparking a decline in annual Silver Investment demand.
Industrial use of silver ? now accounting for some 60% of annual demand on London competitor GFMS's data ? is also forecast to rise, with new innovations such as solar panels and silver-zinc batteries offsetting a projected rise in silver mining output, helping ?to support Silver Prices.?
In particular, CPM Group says that silver use in China has likely risen some three-and-a-half times over since 2000, putting total global use by weight ?roughly twice as large as had been suggested by commentators in the Western market.
?Chinese silver fabrication demand is projected to account for nearly a fifth of global silver fabrication demand this year.?
http://goldnews.bullionvault.com/silver_investment_121020101
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