iShares Silver Trust: SLV Prices Will Remain Elevated With A Strong Demand From Investors

Many were surprised on Friday because the SLVquote closed at $28.77 per ounce. This is a decline of 0.34% from Thursday's price. Currently, silver is trading at $28.78. This price is marginally higher compared to Friday's closing price.
A closer analysis shows that the Priceof SLV may find support at $28.56 before moving to the next level of $28.35.

However, the first resistance will be found at $29.06. A persistent rise in this trend will see the next level of resistance of $29.35 attained easily. Currently, SLV is trading below its 50 hour and 20 hour averages.

Howard Marks, a legendary investor in precious metals, says that this is the best time to invest in silver. He notes that investment flows in this sector will help to offset the next 3 years' compound annual growth rate at 2.5%. This will see the SLV Quote close at $34 per ounce at the end of this year and increase to $35 in 2014.

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Live 24 hours silver chart [ Kitco Inc. ]

Live 24 hours gold chart [Kitco Inc.]