New York, NY (PRWEB) September 29, 2012
According to Michael Lombardi, financial expert and lead contributor to Profit Confidential, since speculation about the third round of quantitative easing (QE3) by the Federal Reserve started to come into the markets, silver prices started to climb. Lombardi reports that silver has great upside potential and could be following gold bullion in sync; but he believes it may also outperform in percentage gain.
In the article “Didn’t Get into Gold Early Enough? This Other Metal’s Your Second Chance,” Lombardi states that, in the past few weeks, silver prices have increased significantly. While he concedes that gold bullion prices have done the same, he notes that by looking at the percentages of these increases, you can see that silver prices have outperformed gold bullion.
“At the beginning of August, silver was trading around $27.00 an ounce. It has now reached $34.00 an ounce—a $7.00 increase, which was a 26% gain,” reports Lombardi.
During the same time period, he adds, gold bullion climbed $176.50 an ounce to $1,776.50—that’s an increase of little more than 11%—still better than the key stock indices such as the S&P 500 and NASDAQ 100; but less than silver.
“Just like gold bullion, silver prices were correcting after a long run-up (maybe waiting for the official QE3 announcement) and investors were hesitant to take the price higher,” reasons Lombardi. “Since hitting highs around $50.00 an ounce in April 2011, silver traded in a downward trading channel; trickling as low as $26.15 an ounce.”
Remember, there will be pullbacks as the price of silver rises, warns Lombardi; he sees every pullback as a buying opportunity.
“The tides are turning in the silver market and there are still good opportunities available in the stocks of quality junior silver producers,” concludes Lombardi.
Profit Confidential, which has been published for over a decade now, has been widely recognized as predicting five major economic events over the past 10 years. In 2002, Profit Confidential started advising its readers to buy gold-related investments when gold traded under $300 an ounce. In 2006, it “begged” its readers to get out of the housing market... before it plunged.
Profit Confidential was among the first (back in late 2006) to predict that the U.S. economy would be in a recession by late 2007. The daily e-letter correctly predicted the crash in the stock market of 2008 and early 2009. And Profit Confidential turned bullish on stocks in March of 2009 and rode the bear market rally from a Dow Jones Industrial Average of 6,440 on March 9, 2009, to 12,876 on May 2, 2011, a gain of 99%.
To see the full article and to learn more about Profit Confidential, visit http://www.profitconfidential.com.
Profit Confidential is Lombardi Publishing Corporation’s free daily investment e-letter. Written by financial gurus with over 100 years of combined investing experience, Profit Confidential analyzes and comments on the actions of the stock market, precious metals, interest rates, real estate, and the economy. Lombardi Publishing Corporation, founded in 1986, now with over one million customers in 141 countries, is one of the largest consumer information publishers in the world. For more on Lombardi, and to get the popular Profit Confidential e-letter sent to you daily, visit http://www.profitconfidential.com.
Michael Lombardi, MBA, the lead Profit Confidential editorial contributor, has just released his most recent update of Critical Warning Number Six, a breakthrough video with Lombardi’s current predictions for the U.S. economy, stock market, U.S. dollar, euro, interest rates and inflation. To see the video, visit http://www.profitconfidential.com/critical-warning-number-six.