Current Silver Prices Per Ounce - Very Uncertain

Current Silver Prices Per Ounce – Very Uncertain

By: - Stock Market - October 10, 2011
current silver prices per ounce %E2%80%93 very uncertain

As of the beginning of October, 2011, current silver prices per ounce have been extremely volatile. During September, 2011, the high price of silver was about $40 per ounce, but as of October 6th, 2011, it was down to around $26 per ounce. Analysts had certainly not projected silver prices to go that low. During the past few weeks, investors have really been pulling their money out of silver which is further bringing current silver prices per ounce down over the end of September.

As of this writing, current silver prices per ounce are sitting at around $31, which is great as it is rising slightly. According to analysts, projected silver prices are set to rise as gold and silver both are sitting in a bullish market. As many people realize, when there is a weak dollar, as there is right now, generally the price of gold and silver rises. Some analysts have said the price of silver falling is great for the dollar as it can indicate the dollar is recovering, however, with a new rise in projected silver prices, the actual odds of this recovering dollar seem slim.

Looking ahead, prices are projected to remain fairly steady through the rest of 2011. Expect silver prices to stay somewhere between $30 and $35 per ounce. By 2012, the silver price is thought to be rising up to near $40 per ounce. Even today, listening to the market news, both gold and silver are rallying, but not due to issues in the United States, but the prices are reacting to what is going on in Europe.

We truly live in a global market and if you want to know where silver prices are going to go in the US on any given day, pay attention to prices in the Asian markets and more importantly in the European markets. If the market in the EU seems to be all over the place, you can expect silver prices in the US will be the same. You should be careful when using silver to push against inflation but the silver market is still strong if you are basing the price and reasons you should buy on currency and the weak dollar.

Remember, just because the dollar is weak, doesn’t mean that is a bad thing for everyone, especially if you are investing in silver or gold. Since the price seems to be related to the strength of the dollar, always pay attention to that information before investing.