Standard Bank's Ikemizu predicts silver at $40

In an article on Bloomberg, Bruce Ikemizu describes how new applications for silver will fuel demand pushing silver to prices as high as $40 in 2011. Quoted from the article:

'Silver, the leading performer in metals this year, is likely to repeat its success in 2011, reaching $40 an ounce on new applications and industry demand, said the head of commodity trading in Japan at Standard Bank Plc.'

'The precious metal will likely outpace next year’s gains in gold, which should surpass $1,500 an ounce, and palladium, Bruce Ikemizu said today in an interview in Tokyo. “Unexpected” new applications for silver, such as in solar batteries, and industrial use that underpins 80 percent of demand, make the metal attractive to “a lot of famous investors, especially in the U.S.,” Ikemizu said, without giving more details.'

The original article can be found here

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