Silver at $40 Will Be Best 2011 Metals Bet

Bloomberg reports that Silver is likely to repeat its success in 2011, reaching $40 an ounce on new applications and industry demand.

The market news is quoted as saying:

The precious metal will likely outpace next year’s gains in gold, which should surpass $1,500 an ounce, and palladium, Bruce Ikemizu said today in an interview in Tokyo. “Unexpected” new applications for silver, such as in solar batteries, and industrial use that underpins 80 percent of demand, make the metal attractive to “a lot of famous investors, especially in the U.S.,” Ikemizu said, without giving more details.

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