Silver set to reach $50 before plunging in value, study says
“In the short term, things have moved spectacularly fast because of the amount of money from investors,” said Philip Klapwijk, executive chairman of GFMS. “I think $50 will probably be taken out this year.”
... However, Mr Klapwijk warned the market could suffer a steep correction if investors were to withdraw their funds because without their buying, the supply of silver would be expected to exceed demand ...
... Investors ploughed $5.6bn into the $21bn-a-year silver market in 2010, according to statistics published on Thursday by GFMS in its annual report on the silver market published by the Silver Institute, a mining industry group ...
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