10 Apr '11, 1am

Beware of the silver streak: The price of silver broke a 31-year-old record and is now at over US$39 an ounce, f...

Beware of the silver streak: The price of silver broke a 31-year-old record and is now at over US$39 an ounce, f...

The price of silver broke a 31-year-old record and is now at over US$39 an ounce, from US$15 last September. -- ST FILE PHOTO LONDON: That silver and gold prices are racing to new record highs is a bad sign. There is physical demand for the metals but, as Barclays Capital said neatly of silver, 'prices have discarded their fundamentals'. The price of silver, in the region of US$15 an ounce last September, is now over US$39 an ounce. Its staggering 160 per cent advance in little more than six months is a sure indication of speculative excess. Investors have rushed to buy silver as a safe haven investment in the mould of gold because it was seen, until recently at least, as a cheaper way in. The precious metal bubble has been partly pumped by geopolitical fears; the ongoing euro zone debt crisis has also had a part to play. But one thing above all is supercharging the price ...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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