NEW YORK, NY -- (Marketwire) -- 01/05/11 -- The price of silver briefly touched new 30 year highs on Monday hitting $31 per ounce in the international market in the first week of 2011. Investors in silver saw impressive returns of 80 percent last year as a weak US dollar lured investors into the precious metals market. Traditionally, when the greenback takes a nosedive, investors flock to precious metals as their prices often move inverse to the US dollar. Silver presents itself as a unique investment opportunity as it has considerable demand as both a precious metal as well as an industrial metal. According to The Silver Institute, at least half of the demand for silver is industrial with silver being applied to batteries, brazing and soldering, bearings and electronics. Two of the most common ways two invest in silver are through an ETF or direct investment in the silver miners. The Bedford Report examines the outlook for the Silver Market and provides research reports on iShares Silver Trust (NYSE: SLV) and Silver Wheaton Corporation (NYSE: SLW). Access to the full company reports can be found at:
While having brutal effects on the economic recovery, the high unemployment rate bodes well for silver. When economic data-- particularly job data -- disappoints, investors traditionally take haven in precious metal markets to avoid currency fluctuations. Yesterday, the Labor Department said that unemployment rates rose in 258 of the 372 largest cities, fell in 88 and remained the same in 26 in November. With Ben Bernanke stating in an interview that unemployment may take five years to fall to a normal level, silver could be a popular investment option for a long time to come.
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The bulls who believe that silver prices will continue to surge may be inclined to look into silver miners/streamers. Investors in silver miners are banking on rising earnings, as silver prices rise, to provide value. Silver Wheaton is a silver streamer, which means it pays to finance a mine and subsequently gets the right to buy metals produced from that mine. Year-over-year earnings at Silver Wheaton have surged an impressive 82 percent.
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