Market Watch reported that investors are continuing to be bullish on silver in 2012, and investor demand is driving the price of silver, which has risen by more than 20% since the beginning of 2012.
As quoted in the press release:
The silver price has risen more than 20% since the beginning of this year. Significantly, from January 2009 through September 15, 2012, the silver price has increased an astounding 211%. Factors leading to the price increase include a desire by investors to diversify their portfolios with hard assets, the diminished value of key currencies and continued global economic uncertainty.
Michael DiRienzo, Executive Director of the Silver Institute, commented:
Investors and analysts are bullish on expectations that additional central banks will do more to attempt to stimulate economies in order to increase consumption and spur employment, leading to even greater investor attention on the 4,000 year allure of silver as a safe haven and a store of value.