We recieved a fax this morning from Eric Pozniak, a precious metals specialist from the Rothman Group. Mr. Pozniak has been a heavy buyer of silver these past 72 hours and thankfully, he has shared his reasonings with us.
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Silver Bells; Christmas has come early!!!!
Once again the precious metals market is testing the resolve of investors around the world. After seeing silver fall below $30 and gold below $1600, many investors are questioning the fundamentals of the metals market. I am here to tell you nothing has changed. All the factors that drove gold and silver to record highs this past year are still in place. The global economy is on very fragile ground. The Fed and European Central Bank continue to rob Peter to pay Paul. The fact is theU.S.is broke!Europeis broke! The Chinese economy is starting to sputter. There are no new jobs being created! The wealth of individuals and the once almightyAmericais quickly eroding before our very eyes.
Now as the average person runs for cover to lick their latest wounds, the smart investors are aggressively adding to their precious metals positions. Legendary investor Jim Rogers recently wrote he had hoped for one more opportunity to buy silver below $30. Merry Christmas Mr. Rogers, you wish has come true. I am certain that Mr. Rogers and other savvy investors are not selling silver, but instead buying silver at a diligent pace. Proof of this comes from the announcement from silver fund manager and Canadian Billionaire Eric Sprott, who recently filed to purchase $1.5 billion or 45 million ounces of physical silver! This purchase alone, which is equivalent to ¾ of the annual silver bullion allocated to investment, is certain to propel silver back to its recent highs!
Now as we fast approach 2012, silver below $30 is a bargain which will not last for long. The New Year will bring more of the same. Another dose of Quantitative Easing (QE3) here in the U.S., followed by Europe’s own version of stimulation, and rumors of China lowering their interest rates to create more liquidity in the marketplace. Add the wild card of a nuclear Iran, and growing tensions in the Middle East, silver is poised for a significant move to the upside. While silver guru David Morgan has just called for $75 silver by the end of 2012, in the near term a move back to just $40 seems to be in the cards. In regards to silver, the biggest risk an investor can take right now, is not being involved when silver soars to the upside. I believe this will happen sooner, then later!
If you’d like more information about this topic, or to speak with Eric Pozniak, please call Angela at (877) 239-7269 or email at email@example.com