subject: "Graham Walker"- No Cloud On This Silver Lining [print this page] Analysts at Japan-based broker-dealers, "Graham Walker" say they are confident that the latest break out in the price of silver will take the metal close to its 2008 high of $20.79.
Often regarded as "poor man's gold", silver remains a firm favorite at the firm who say that the expectations of further monetary easing by the US Federal Reserve and increasing concerns over widening yield spreads on European bonds is forcing more investors into the market for silver and its more illustrious precious metal, gold.
John Reynolds, CEO at "Graham Walker", believes that investors seeking shelter from government-induced debasement of paper currencies are looking more closely at the dual perception of silver which has historical applications as a currency and also has many industrial uses.
"Unlike gold which tends to be stored by central banks and has few industrial applications, much of the silver produced is actually consumed by its uses in industry. This makes the fundamental reasons for acquiring it pretty compelling in our view", he said.
The current surge has taken the price as high as $20.05 and with talk of further quantitative easing in the US and perhaps the UK and EU increasing, "Graham Walker" believes that the likelihood is for the price to benefit significantly.
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