From Wealth Daily:

Recently Jim Rogers, one of the greatest living commodity traders on the planet, explained why if he could only buy one commodity this summer, it would be silver.

Rogers reasons:

Silver is the only major commodity not to have reached a new all-time high in this bull market; silver is still cheaper than it was 32 years ago, prices are astonishingly depressed.

Then you can consider the impact of an economic slowdown on silver. Yes its industrial use will go down but so will its production because that is linked to the output of copper and zinc mines.

Investment demand for precious metals will take over in any case from industrial demand. And once the gold price heads up then silver will follow. You get 50 times more silver for your money than gold.

Historically it was 12 to 15 times the amount of silver for gold. Why is it that silver has become so cheap by historical standards?

It goes back to the price collapse of 1980. Prices then got to such a huge spike due to the cornering of the market by the Hunt Brothers that production was ramped up and huge stocks were accumulated. The Hunts market manipulation invited a similar response from global central banks.

Once silver prices slumped from $50 there was a 20-year bear market with enough oversupply to keep prices down for two decades. Silver's recovery since the millennium has been spectacular, from $3 an ounce to almost that previous all-time high 15 months ago.

In addition to the technical picture, the fundamental view is bullish, too.

The latest Fed minutes suggest the central bank is ready to begin another round of quantitative easing. With Ben Bernanke warming up the printing press, the smart money has been getting ahead of the upward move coming in gold and silver...