Thursday, April 21, 2011
In 1980 it was the Hunt brothers. In 1998 it was Warren Buffett. And in 2011?
For anyone unversed in the history of the silver market, those dates refer to market squeezes that caused surges in the silver price. The talk among some conspiracy-minded traders and analysts is that something similar could be happening today.
It is easy to see why: during the past 12 months the price of silver has risen 154 per cent, outpacing gold (32 per cent), wheat (65 per cent), oil (45 per cent), and indeed almost any investment you’d care to mention.
Perhaps the most telling measure, the ratio between the price of silver and that of gold (ie the price of an ounce of gold divided by the price of an ounce of silver) has dropped to 33.5 times – after averaging 60-70 during the past decade.
This article was posted: Thursday, April 21, 2011 at 7:12 am