Silver Wheaton and Coeur d'Alene Mines Poised for Turnaround as US Economy Falters
January 03 2012 - 8:16AM
Marketwired
Silver stocks and prices had a challenging 2011. The price of
silver finished last year at $27.92, representing a 10.7 percent
annual decrease as the metal's industrial component was weighed
down by global economic slowdown fears. Silver demand could be
poised for a turnaround this year, however. TD Securities looks for
silver investment demand to gain roughly 9 percent in 2012, to
1.021 billion ounces. The Bedford Report examines the outlook for
companies in the Silver Industry and provides equity research on
Silver Wheaton Corporation (NYSE: SLW) (TSX: SLW) and Coeur d'Alene
Mines Corporation (NYSE: CDE) (TSX: CDM). Access to the full
company reports can be found at:
www.bedfordreport.com/SLW
www.bedfordreport.com/CDM
China and India are expected to drive silver demand this year.
According to Albanian Minerals President and CEO Sahit Muja,
"Silver demand in China and India is set to rise 40 percent in
2012." In 2012 silver consumption in India alone is expected to
rise to 5,000 tonnes, according to Sahit Muja, with investments in
India coming mostly from rural areas, which account for 70 percent
of the nation's population.
The Bedford Report releases stock research on the Silver
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According to Gijsbert Groenewegen, managing partner of Silver
Arrow Capital Management in New York, "Silver acts like a precious
metal on the way up and an industrial metal on the way down."
Groenewegen argues that as a result of this phenomenon, "silver
will move contrary to the U.S. (dollar)."
Groenewegen continued, "The financial situation in the U.S. is
not much better than the EU. If politicians fail to reduce the U.S.
debt, interest rates will skyrocket and paper money will lose all
credibility," possibly sending silver spiking in the future.
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