by: Geoff Candy
July 31, 2012
According to David Morgan, while silver prices are likely to move higher over the rest of 2012, a move up in gold will be needed as a catalyst.
The bottom for silver prices looks to have been reached recently says, David Morgan, but, in order for prices to start moving upwards, gold is going to have to lead the way.
Speaking to Mineweb.com’s Metals Weekly podcast, the author of The Morgan Report and a silver specialist, Morgan explained that the current consolidation phase is likely to continue for a while longer but added, “the sentiment right now is for safe haven status and gold holds a much higher place in investors mind than silver does, so to get silver moving again I think gold is going to have to lead us up out of this basic pattern in a rather significant way and I think then silver will probably follow it up.”
While he admits this is not always the case, Morgan told Mineweb this time around silver is going to need to move significantly before new investment money comes into silver.