(1888PressRelease) December 02, 2011 - MIAMI, FL - Silver benefited, along with gold, from the coordinated action by five major central banks, plus the Federal Reserve, on Wednesday. HSBC has since raised its forecast for the average silver price for 2012 to $34 an ounce, $2 higher than previously. A slight surplus is seen as capping silver prices but the revised forecast is based on consistent industrial demand and increased investment demand. Demand from the jewelry industry is also rising slightly as silver jewelry offers a more affordable price point than gold.
Silver consolidated Wednesday's gains, rising again Thursday, to reach $32.80 at the time of writing. Silver benefits from both investment and industrial demand and can share in gold's role as a safe haven for wealth protection. Historically silver has been used, like gold, as money while, due to its unique properties, it is used in electric contacts and conductors, as a catalyst in chemical reactions and in high-end audio equipment. During a strong economy, silver will benefit due to industrial demand whereas, in times of economic turmoil, it should act as a safe haven and see increased investment demand.
"Silver has been described by Canadian billionaire, Eric Sprott, as 'the investment of the decade'," says Bill Hionas of Pan American Metals of Miami. "It offers investors a far more accessible entry point than gold or platinum while providing a hedge against inflation."
Pan American Metals of Miami trades in silver bullion, offering both leveraged and fully funded positions.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
HSBC revises silver forecast for 2012 to $34. 
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