Yasir Mubarak | Jan 31, 2013 06:40AM ET
Silver is still affordable for small investors as the price of one ounce of gold reached more then $1600, where silver is still at a price next to $30. Silver also has direct liquidity and the general sentiment for silver price in 2013 is still bullish.
In 2012, the demand for silver for industrial and commercial uses increased to reach 43% and this demand is expected to rise in 2013 especially from far-east markets like China, where jewelers demand is booming lately.
Because of the public debt crisis in US, and the Euro zone crisis in Europe, investors are searching for safe heaven investments and silver represents an affordable choice for small investors and big investors. As much as the US dollar will lose value, silver prices will advance more and this year it might retest the highest high of 49.70 after passing the support levels 37.49, 44.20
Technically speaking:
By studying the daily chart for silver price on the long term, we find that the price rises in a major upside trend carried by the bullish trend line shown clearly on the following chart:
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Many thanks to my friend Tony Fata for covering the fundamental part of this report
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