Silver Price Per Ounce Reaches Record High

Silver price per ounce has continued to rise raising concerns in many quarters while some other quarters believe this is going according to plan. According to reports on April 20 this year gold reached an all-time high of $1507.10 while silver recorded of $45.43 per ounce all-time high.

It is believed by many that silver price per ounce will eventually reach the predicted $50 price whereas gold which has already broken its 1500 prediction barrier might sooner or later get to do $1600 mark end of your target predicted by GFMS are the $1632 prediction made by the London bullion market Association.

It easier to appreciate the impact of the current rises when the figures of recent years are considered. For instance 10 years ago on April 20, 2001 gold traded for a paltry $264 an ounce whereas the prize of silver per ounce was just $4.43. The figures changed to $623.50 and $12.19 respectively by the year 2006.

There are several concerns in many quarters about the current prices of precious metals. The fact that the price of silver price per ounce is at the current level is seen by many as an indication of the weak dollar against other currencies. This of course sends jitters to the spines of the powers that be.

These figures clearly demonstrate the steady rise of both to the price of gold silver price per ounce and the increasing likelihood of the price of these precious commodities rising very close to the predicted values.

The rising silver price per ounce has also been perceived as an indication of future inflation and this probably forms the bedrock of a fallback on the precious commodities which is seen as many as a hedge against inflation.

The fears appear justified considering the current Silver price per ounce and the $110 a barrel price of crude oil. The question as to whether the prices of these precious commodities we continue to rise and not is a matter of speculation but the direction seems upward.

(Source: http://www.planetinsane.com/silver-price-per-ounce-reaches-record-high/2616020/)