December 6, 2010

Silver passed $30

Economist and precious metal traders have predicted its coming in the past weeks but never before in the history of precious metal trading did Silver performed at such phase that even bullish investors never anticipated its very early coming.

Local precious metal buyers and dealers are not even aware that precious metals have elevated to such level in a single day.

Before Silver reached $30, buyers were hesitant to stock precious metals due to last week volatile performance where Silver peaked at $29 before it dove to $26 level giving risk takers a definite advantage. Local numismatic organizations held auctions these past weeks and there so many bargains at the floor. Most Silver coins were bought 50% to %70 of bullion value.

Experts still believe that an economic Armageddon is coming so prices of precious metals would still continue its upward trend.

Meanwhile, Bangko Sentral Ng Pilipinas has already released the new Aquino signed notes this December. This will be the last batch of notes that will bear the sign of the 15th president before its redesign issue will be released in 2011.

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