Thomson Reuters GFMS’ Newman: Silver May Move Toward $50 Yet In 2011

Forbes reported that research director Philip Newman sees silver prices approaching $50 this year.

The market news is quoted as saying:

For the year to date, global silver exchange-traded fund holdings are down slightly from the 600 million where they stood at the end of 2010, Newman said. But, he continued, the retreat has been “modest” and “they still remain at elevated levels and historically high levels.”

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