Since the
beginning of the year, SLV
has been doing very well in comparison to gold. The prices of silver have risen
by over 2.5% in the past one week. This has led to many precious metal traders
predicting that SLV Prices
are expected to remain extremely bullish in the coming days given the
industrial demand which is steadily firming up.
Experts are
optimistic that before the year ends, bullish trend of silver will lead to a
high of $6,949. This bullish trend will be highly supported by the fact that
more than 66% of the silver produced in the world is used for industrial purposes.
At the London Metal Exchange, the price of SLV hit $31.29 an ounce,
indicating an increase of 0.9%. Since December, spot prices have remained
relatively stable between $29.20 and $31.49. Analysts and traders have
attributed this kind of volatility to the negligible demand experienced in the
market.
An analyst
at Geojit Comtrade said that silverprices are not volatile but there is actually no clear direction to where
the prices are moving. It is now clear that the equity market is growing
steadily and very few investors have turned up to the global equity. But what
are long term investors anticipating?
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![Live 24 hours silver chart [ Kitco Inc. ]](http://www.kitco.com/images/live/silver.gif)