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Profit Confidential (www.ProfitConfidential.com), an e-letter published by Lombardi Publishing Corporation, a 27-year-old consumer publisher that has served over one million customers in 141 countries, is reporting that the underlying fundamentals that drive silver prices higher are getting stronger.“Gold bullion prices continue to take a beating, down nearly 26% so far this year, on the belief that the Federal Reserve’s $85.0-billion-per-month easy money policies will continue unabated for the foreseeable future. Silver prices have also fallen into the same rut and are down 35% since the beginning of 2013,” says lead contributor and financial expert Michael Lombardi. “But in the midst of the negativity towards silver, I see the fundamentals that ultimately drive silver prices higher as getting stronger.”
Demand for silver is robust. Despite the 35% drop in silver prices this year, investors continue to pour into the market to take advantage of the favorable pricing. In mid-November, the U.S. Mint reported that sales of one-ounce silver coins reached an annual record of 40.175 million ounces, soaring past the previous annual record of 39.86 million ounces in 2011. Since 2007, silver demand from the U.S. Mint has increased more than 315%. (Source: “Sales & Figures,” U.S. Mint web site, last accessed December 5, 2013; www.usmint.gov/about_the_mint/index.cfm?action=PreciousMetals&type=bullion.)
“The extraordinary demand for silver is being fuelled in part by the devaluation of the U.S. dollar. The general consensus is that the Federal Reserve will begin to taper its easy money policy in early 2014; whether it does or not is open for debate,” Lombardi adds. “What is not, however, is that the Fed has printed off trillions of dollars in new money, which has placed downward pressure on the value of the U.S. dollar. Other central banks are following suit; printing more money in an effort to lower the value of their currencies to increase exports.”
“Historically, precious metals like gold bullion and silver have proven to be great stores of value in times of uncertainty,” he concludes. “With silver prices down and demand rising, there is significant upside opportunity for investors looking for quality, well-managed silver mining companies.”
Founded in 1986, Lombardi Publishing Corporation, which has served over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more information on Lombardi Publishing Corporation and Profit Confidential, visit www.lombardipublishing.com.
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Organization: Lombardi Publishing Corporation
Address: 350 5th Avenue, 59th Floor, New York, NY 10118
Phone: 905 856 2022
Website: http://www.profitconfidential.com/
Release ID: 28008
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