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Silver Rally Expected In Second Half Of 2012

|Includes: AGQ, Sprott Physical Silver Trust (PSLV), SLV

The silver price is closing in on a critical wedge pattern (Chart 1). I expect the silver price to rally in the second half of this year. If you haven't bought yet, I suggest this is the right time to do so.

Chart 1: Silver Price

To add even more rumors to the silver price, on King World News, a London trader reported that there was a huge Eastern buyer of silver three weeks ago. He bought a staggering amount of silver around $US 27/ounce. So everything is pointing to higher prices.

Disclosure: I am long PSLV, AGQ.