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David Morgan Predicts Silver Price to Reach $60.00/oz. by Year-End

With the price of silver sitting around the $29.00/oz. level and having fallen from a high of almost $50.00/oz. last year, many investors in the PM are wondering if the price is going to head higher, lower, or just stay where it is.

The silver market is highly volatile, huge swings in price being the norm. Nevertheless, David Morgan, publisher of the Morgan Report as well as, is predicting that the silver price will reach $50.00/oz. by the third quarter of this year and $60.00/oz. by the end of 2012.

In an interview on the Smartstox online talk show, Morgan was asked by Robert Graham for his "crystal ball" prediction on where the price of silver is headed this year, and without any hesitation, Morgan replied as stated above. He has also predicted that gold will reach $2,400.00/oz. by the end of this year. Therefore, according to Morgan's predictions, silver will far outperform gold in 2012.

He is also telling people, both publicly and privately, that buying silver anywhere under the $30.00/oz. price is a smart thing to do, and that in the long term, investors who do so will be well rewarded.

In another article I've posted, "David Morgan Predicts Silver to Hit $60.00/oz. by end of 2012," I highlighted the two main factors Morgan sites for his that support his view on where the price is headed.

He sites the world financial problems, which continue unabated, and which make the case for silver as an investment greater and greater. He also referred to the industrial demand for silver, from a variety of industries, such as solar demand, water purification, and food preservation. Both of these criteria, investment and industrial, putting pressure on the price of silver.

David Morgan does acknowledge that the industrial side may weaken somewhat due to slower economies, but he also emphasized that the investment demand continues to increase, and this will lead to significantly higher prices this year. 

I'd appreciate hearing your thoughts and predictions on where you think the prices of silver and gold will be by the end of 2012. What do you say?