I had recommended to start buying Silver last year when it was around 40,900. Silver has traded in narrow window since then.
I recommend to add more at this level. I believe, Silver is in firm up trend.
Upon breaching 40000 firmly, it looks to scale up to 48000. And, if strength sustains, it can scale up to 56,000.
Silver has corrected more than 60% and looks bottomed out after3-4 years consolidation.
Silver production has come down in 2015.
60% of Silver produced is used in Industrial purpose.
Gold/Silver ratio is at historical high. Hence, It looks Silver will outshine Gold in next rally.
All most all currencies of the World are getting devalued or have been tried to devalue by respective Central Banks of the World in past few years and it continues even now. Seeing deflationary pressures in the developed and now even in emerging world, currency devaluation will gather pace in time to come. Silver looks best hedge and insurance against volatility.
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