Silver and Gold at record prices

Despite the fact that the economy is in a downturn, commodities are at their highest since 2008. China, with more than $ 3trillion reserves, aims to be the major buyer of precious metals in order to expand its exchange reserves. Silver has reached $49.70 ounce whereas gold has surged to a record $1518.32 per ounce, according to Century Weekly magazine.

The Thomson Reuters/ Jefferies CRB index states that silver has been found to have the most significant price increase in 2011 out of 19 other raw materials. Dominic Schnider, the director of wealth-management research for UBS AG, states, ‘Silver is loved by the market in short-term, however in long term it will end up in a bloodbath’.

The US Dollar has crashed for 4 consecutive -weeks against a pool of major currencies. The Federal Reserve may keep scrounging costs at 0% to 0.25%, while European Central Bank officers indicate further rate increases.

At present, silver is reported to have more than doubled in the last year, while gold has increased 32%. The demand of silver has increased and according to Li Ning, an analyst at China International Futures Co, ‘Silver is definitely benefiting from spill-over demand from gold as haven investment’.

 



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Despite the fact that the economy is in a downturn, commodities are at their highest since 2008. China, with more than $ 3trillion reserves, aims to be the major buyer of precious metals in order to expand its exchange reserves. Silver has reached $49.70 ounce whereas gold has surged to a record $1518.32 per ounce, according to Century Weekly magazine. The Thomson Reuters/ Jefferies CRB index states that silver has been found to have the most significant price increase in 2011 out of 19 other raw materials. Dominic Schnider, the director of wealth-management research for UBS AG, states, ‘Silver is loved...

Despite the fact that the economy is in a downturn, commodities are at their highest since 2008. China, with more than $ 3trillion reserves, aims to be the major buyer of precious metals in order to expand its exchange reserves. Silver has reached $49.70 ounce whereas gold has surged to a record $1518.32 per ounce, according to Century Weekly magazine.

The Thomson Reuters/ Jefferies CRB index states that silver has been found to have the most significant price increase in 2011 out of 19 other raw materials. Dominic Schnider, the director of wealth-management research for UBS AG, states, ‘Silver is loved by the market in short-term, however in long term it will end up in a bloodbath’.

The US Dollar has crashed for 4 consecutive -weeks against a pool of major currencies. The Federal Reserve may keep scrounging costs at 0% to 0.25%, while European Central Bank officers indicate further rate increases.

At present, silver is reported to have more than doubled in the last year, while gold has increased 32%. The demand of silver has increased and according to Li Ning, an analyst at China International Futures Co, ‘Silver is definitely benefiting from spill-over demand from gold as haven investment’.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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