There’s more upside yet for silver

Moneyweek.com reported that there’s more upside yet for silver:

Silver has bounced by 16% to just over $17 an ounce since early February. That follows a 48% jump in 2009 – and the run may not be over yet. Silver benefits from “a split personality”, says Bart Melek of BMO Capital Markets. As a precious metal (known as ‘poor man’s gold’), it is a safe haven that tends to follow gold’s movements. However, given the market is much smaller, it is also usually far more volatile. But it is also a base metal, with industrial use accounting for 50% of demand. It is found in everything from computer keyboards to washing-machine control panels, and it also has antibacterial properties.

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