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Silver is Set for a Boost
For those who are looking for a new area to place their investments, the silver mining industry may be one of the best routes that one can take in the coming years.
According to MarketWatch, HSBC has recently lifted its silver forecasts for 2013 and 2014. The expected price of silver in 2013 has been raised from $32 to $33 per ounce, with 2014 expectations rising even more dramatically from $28 to $31 per ounce.
Investor appetite, strong bar/coin purchases, and a bottoming-out of the jewelry industry are just a few contributing factors. Industrial silver consumption is becoming greater and greater each day, which will no doubt have an effect on overall pricing.
The increase in silver consumption is not in and of itself a reason to look towards investing, however; there is far more at play here than meets the eye.
The silver industry is seeing somewhat of a revitalization as of late. According to The Salt Lake Tribune, gold and silver mines in the U.S., which many people mistakenly believe to be part of the history books at this point, are currently being proposed for Utah’s Tooele County.
Tooele County serves as one of the most historic mining districts in the country, as precious metals have been extracted from the area for well over a century. The reinvigoration of this area is thought to not only have a major impact on the industry, but would bring a great deal of jobs to the area that might not otherwise exist. It would also serve to blaze a trail for other potential gold and silver mines to be opened throughout the country.
Read More: http://www.stockgoldmarket.com/silver-is-set-for-a-boost
