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The following article was published in our article directory on February 13, 2013.
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Silver Dollar Values Prices Skyrocketing, Asian Investors Driving Up Price Flocking To Silver Investing

Article Category: Finances

Author Name: James A. Bakerman

Gold has long been the darling of Asian investors. But its lesser cousin silver may now be coming into its personal as an investment asset.

Demand for physical silver has rocketed in the past few months, propelled by repeated "quantitative easing" (QE) in the US, the waiver of goods and services tax (GST) on precious metals right here last October, and also the belief that it's undervalued relative to gold.

Silver Bullion, one of the oldest physical silver dealers in Singapore, said its sales have tripled since last October to about $6 million a month. The firm launched trading through a website in April 2009 and has seen revenue grow from $7.6 million in 2010 to $31.5 million last year.

Another dealer, GoldSilver Central, said it has seen more demand for silver than gold - surprising even the founding partners themselves. About 60 per cent of GoldSilver's sales are from silver. "Initially, when we first started (last March), a lot of my partners were skeptical; we had only one or two believers in silver. The majority of them had been really gold buffs," stated MD Brian Lan. "They were quite shocked that silver did well, and that there were a lot of individuals looking for silver as an investment tool."

The most well-liked silver goods would be the Mapleleaf coins of the Royal Canadian Mint, the American Eagles coins, as well as 100-ounce bars, the dealers said.

The GST waiver announcement catalyzed interest in investing in physical precious metals, with more new investors purchasing after last October, when the waiver took effect.

In addition to kicking up more demand, the GST waiver has also drawn new players into the physical silver market here. Swedish dealer Liberty Silver setup an outfit called Bullionstar in Singapore last August. Although it has not started trading, enquiries have been "overwhelming", said regional manager of operations Zane Lim. Some 70 per cent of the enquiries he has received center on silver.

Although silver is frequently regarded as a poor man's gold, those investing in it are primarily experts in their 20s to 40s, who are nicely educated and searching for alternative ways of investment, dealers said.

Stated Gregor Gregersen, founder of Silver Bullion: "We do not need to sell. The majority of our customers, once they come, would have already study through the internet." These investors are often concerned with how central banks are looking for to boost growth through printing cash, leading to the debasement of currencies and inflation.

The US Federal Reserve in December announced treasury purchases of US$45 billion a month, adding to its US$40 billion a month acquisitions of mortgage debt launched below the third round of quantitative easing (QE3) last September. The new bond buying followed two earlier rounds of quantitative easing in which the central bank bought US$2.3 trillion in securities. The excessive printing of money will result in an international financial collapse, rendering cash worthless, some believe. When that happens, precious metals such as gold and silver will probably be the main means of trade, and hence they act more as an insurance than investment, based on this view.

The price of silver has tripled since the finish of 2008, when QE1 was launched. Analysts expect it to rise from its current US$30 an ounce to US$40 next year.

Advocates of silver also point to its low value relative to gold (1:50) as compared to the 16:1 ratio of natural occurrence underground - an indication of its potential to rise more than gold, they say.

Silver is also more widely utilized for industrial applications, from solar panels to medical devices. Demand for these will also increase as financial growth picks up, they purpose.

"When individuals see a $50 note and a silver coin, most likely individuals will go for the $50 note," stated Mr. Lan. "We can actually educate the market a bit more . . . I believe there's nonetheless a lot more to come." My recommendation would be to buy silver today.

Keywords: kitco silver, gold, silver, silver coins, gold coins, silver price, gold price, silver prices, gold prices, investing, precious metals, gold and silver

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