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FIRST ACCESS to Nadeem Walayat’s Analysis and Trend Forecasts

Silver Price Seen Over $40/oz in 2012 – Store of Value Remains Undervalued

Commodities / Gold and Silver 2012 Apr 21, 2012 - 05:51 AM GMT

By: GoldCore

Commodities

Gold’s London AM fix this morning was USD 1,640.00, EUR 1,246.30, and GBP 1,018.25 per ounce.
Yesterday's AM fix was USD 1,642.00, EUR 1,249.91 and GBP 1,022.73 per ounce.


Silver in USD 2 Year – (Bloomberg)

Some astute store of wealth buyers continue to buy (gold and especially silver bullion) on the dip but physical demand remains subdued in western markets as both speculators and some investors seek clarity regarding price direction.

Much of the reporting on silver continues to focus on silver as an investment and on silver’s volatility. It fails to acknowledge silver as a store of value and as financial insurance against monetary and economic collapse.

This is the primary motivation of many silver buyers today and to ignore it is unfortunate and can lead to defective analysis.

Silver is not an investment rather it is a store of value and a form of financial insurance. It is a long term buy - until it has to be sold– or a permanent holding.

Silver in USD 1971 – 2012 (Bloomberg Inflation Adjusted Index)

Silver remains undervalued from a long term historical inflation adjusted perspective (see chart).

Our long held belief that silver could reach the real high, inflation adjusted, of $130/oz from 1980 remains.

Immediate support is at $31/oz and below that at $27/oz and store of value buyers should continue to accumulate on the dip.

However price forecasts by all should always be taken with a pinch of salt and silver’s value is as financial insurance and a store of wealth that cannot be debased and cannot go bankrupt.

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SILVER
Silver is trading at $31.78/oz, €24.10/oz and £19.73/oz.

PLATINUM GROUP METALS
Platinum is trading at $1,578.00/oz, palladium at $659.90/oz and rhodium at $1,350/oz.

For the latest news and commentary on financial markets and gold please follow us on Twitter.

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Mark O'Byrne
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Comments

Rod
21 Apr 12, 11:31
Silver under valued?

You state that per the chart 'silver remains undervalued from a long term historical inflation adjusted perspective'.

To my eyes your chart shows no such thing. It appears to me that silver is currently valued slightly above its historical average. Just because it is below the extreme valuation peak reached in 1980 does not mean it is undervalued!


Lester
23 Apr 12, 06:14
Silver

OK, so we all know what the Price of silver is.

How do we measure its Value? Any suggestions?


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