Expert Claims: Silver to Outperform Gold194 views 2012-10-05 06:15
In the article “Didn’t Get into Gold Early Enough? This Other Metal’s Your Second Chance,” Lombardi states that, in the past few weeks, silver prices have increased significantly. While he concedes that gold bullion prices have done the same, he notes that by looking at the percentages of these increases, you can see that silver prices have outperformed gold bullion.
“At the beginning of August, silver was trading around $27.00 an ounce. It has now reached $34.00 an ounce—a $7.00 increase, which was a 26% gain,” reports Lombardi.
During the same time period, he adds, gold bullion climbed
$176.50 an ounce to $1,776.50—that’s an increase of little more than 11%—still
better than the key stock indices such as the S&P 500 and NASDAQ 100; but
less than silver.
“Just like gold bullion, silver prices were correcting after a long run-up (maybe waiting for the official QE3 announcement) and investors were hesitant to take the price higher,” reasons Lombardi. “Since hitting highs around $50.00 an ounce in April 2011, silver traded in a downward trading channel; trickling as low as $26.15 an ounce.”
Remember, there will be pullbacks as the price of silver
rises, warns Lombardi; he sees every pullback as a buying opportunity.
“The tides are turning in the silver market and there are still good opportunities available in the stocks of quality junior silver producers,” concludes Lombardi.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market...before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
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