President Barack Obama took office on January 20, 2009 as the United States' 44th president. To the economic recession Obama declared, "Even as we have had to spend our way out of this recession in the near term, we have begun to make the hard choices necessary to get our country on a more stable fiscal footing in the long term." (Source Found Here). That being the case, this was the year that the United States' National Debt reached over $12,000,000,000,000 with the mltiple bailouts. U.S. dollars are being printed at an unheardof rate, and some say that the US Dollar is already losing its value. For this reason, precious metals, like silver, are increasing in value and price. Besides inflation being a huge threat, the demand for silver greatly increased this year.
At the end of July 2009 Chinese citizens were provided with the opportunity to buy silver bullion as an investment. It is interesting that silver has NOT gone below $16.00 since August. Look at the graph below and you can see that a few weeks after that time, the silver price increased over $2.00 and went as high as $19.21 at one point. With a highly populated nation being encouraged to invest in silver, the demand is very high.
Now, the question that everyone wants answered is "What will silver do in 2010?" If I claimed to know the answer to this question, I would most likely be a very wealthy man. There is no "sure" way of knowing exactly what the silver market will do in 2010, but by taking into consideration the previously mentioned facts, you can get an idea of where it has been and where it is going. As shown in the 2009 yearly silver graph, the silver price has been on a steady incline, and could possibly continue to do the same into 2010.On behalf of Quality Silver Bullion, Have a Wonderful New Year!
Written by Jim Little
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