NEW YORK, NY--(Marketwire -01/03/12)- Silver stocks and prices had a challenging 2011. The price of silver finished last year at $27.92, representing a 10.7 percent annual decrease as the metal's industrial component was weighed down by global economic slowdown fears. Silver demand could be poised for a turnaround this year, however. TD Securities looks for silver investment demand to gain roughly 9 percent in 2012, to 1.021 billion ounces. The Bedford Report examines the outlook for companies in the Silver Industry and provides equity research on Silver Wheaton Corporation (NYSE: SLW.TO - News) (TSX: SLW.TO - News) and Coeur d'Alene Mines Corporation (NYSE: CDE - News) (TSX: CDM.TO - News). Access to the full company reports can be found at:
China and India are expected to drive silver demand this year. According to Albanian Minerals President and CEO Sahit Muja, "Silver demand in China and India is set to rise 40 percent in 2012." In 2012 silver consumption in India alone is expected to rise to 5,000 tonnes, according to Sahit Muja, with investments in India coming mostly from rural areas, which account for 70 percent of the nation's population.
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According to Gijsbert Groenewegen, managing partner of Silver Arrow Capital Management in New York, "Silver acts like a precious metal on the way up and an industrial metal on the way down." Groenewegen argues that as a result of this phenomenon, "silver will move contrary to the U.S. (dollar)."
Groenewegen continued, "The financial situation in the U.S. is not much better than the EU. If politicians fail to reduce the U.S. debt, interest rates will skyrocket and paper money will lose all credibility," possibly sending silver spiking in the future.
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