Did you read this one posted on aug 9 ? I thought i should reproduce it here to comfort those deceived by the present SP . Many other factors should help push silver price even higher before the end of the year , including as we all know the value of the $US and increase industrial production going forward under the influence of stimulus packages worldwide and and ECB decision in aug to reduce gold sale over the next 5 years plus increase of gold reserve by some other central banks ( China Russia India to name a few ) plus interest rate having nowhere else to go but up maybe even today in Europe .
I mention gold since i believe silver should follow suit and even faster then gold by reducing it's ratio to it wich recently went from nearly 70 to 65 . I expect this ratio could reach low 60's before the end of the year and hopefully break my previous conservative higher evaluation of $18 .
Regards Tec ! sept 3rd
Forward silver to touch Rs 27,000 a kg by Dec
posted on Aug 09, 09 10:59AM
http://www.thehindubusinessline.com/businessline/blnus/08091320.htm
Sunday, August 9, 2009
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Commodities
Forward silver to touch Rs 27,000 a kg by Dec
MUMBAI: Silver prices are set to touch the Rs 27,000-mark a kilogram in forward market by December, following renewed retail as well as industrial demand, an industry official said.
"The increasing demand in industrial use and retail demand is expected to lift silver prices in the forward market to Rs 27,000 a kg by December 2009 from the present Rs 23,500 a kg," Silver Emporium's Director and a bulk dealer in silver, Rahul Mehta, s aid here.
Silver is traded in the Indian commodity exchanges like Multi Commodity Exchange of India (MCX) and National Commodity & Derivatives Exchange Ltd (NCDEX). The silver price in the ready market is set to touch Rs 25,000 a kg by December from the present Rs 23,100 a kg, Mehta said.
The price of white metal had gone up more than three times to Rs 27,500 a kg last year from Rs 8,000 a kg in 2003. India is the world's second largest consumer of silver. The retail demand is expected to increase during the forthcoming festival season wh ich is expected to last till February 2010, he said.
Silver is highly ductile and malleable and is used in making jewellery, coins and tableware. It is also used in chemical experiments as it provides a high electrical and thermal conductivity. - PTI
