By Marc Davis, SilverSeek

Silver may yet outshine gold in 2010 as spot prices for the white metal respond to the prospect of a surge in industrial demand. With a little additional help from investment demand, silver may even rally into the $25 an ounce range.

So says Chintan Parikh, a commodity analyst at the CPM Group – a leading New York-based commodities research, consulting, asset management and investment banking organization.

“Prices may spike as high as $25,” he says. At the very least, it should breach its most recent high, which was set at $20.79 in the spring of 2008, he adds.

Parikh says much of this impetus for higher prices is being driven by the fact that traditional industrial end users of silver, such as the ever-burgeoning global electronics industry, have in recent weeks begun to replenish severely depleted inventories.

In fact, silver inventories became so run-down during the financial crisis that it may take up to six months to fully rebuild them to normal levels. Parikh also notes that demand from the industrial sector tends to be quite price inelastic, meaning that buyers have few options other to pay prevailing prices.

Another key driver for 2010 will be the advent of new market places for silver, including pent-up demand for silver-zinc batteries in ‘smart’ automobiles and an array of portable electronic devices, Parikh says.

In fact, the widespread adoption of silver-zinc batteries is going to be “one of the major drivers behind a rise in prices because it may absorb a lot of silver,” he adds. Though this important new application for silver might not necessarily become a major factor in demand for silver as early as next year, it promises to become a very sizeable marketplace, he suggests. And especially for automobiles.

Notably, China is forecast to become a huge adopter of electric cars to curtail itsrising dependence on foreign oil and to reduce its air pollution. In fact, electric cars and hybrid plug-ins will account for more than half the auto market in Chinaby 2020, according to Dr. Wolfgang Bernhart, an auto industry expert with the international think tank, Roland Berger.

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Silver prices returned with some luster following their declines last week when prices slumped below yearly highs. The metal enjoyed weekly gains of 2.0 percent in London and 1.7 percent in New York — both closing at their at their highest weekly levels this year.

New York silver futures for December delivery finished Friday at $17.723 an ounce, rising 30.3 cent cent from last Friday’s close of $17.420. The price has gained 57 percent this year after dropping 24 percent in 2008.

London silver was set to $17.65 an ounce, jumping to a weekly gain of 34 cents. The precious metal is now up an impressive $6.86, or 63.6 percent this year. London silver on Dec. 31, 2008 was fixed at $10.79 an ounce.

"In silver right now you have about an equal number of buyers and sellers between the range we have seen recently," said David Morgan from Silver-Investor.com."And this is very typical of all markets. A bull market is named bull for a reason. All bull markets shake off as many participants as possible, on the way up"

London precious metal weekly prices follow:

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Spot Silver prices opened this week at $17.48. Silver reached a high of $17.97 on Friday, October 23rd. The low for silver occurred on Thursday, October 22nd at $17.38. Silver ended the week up $0.23 at $17.71. This week, investors concentrated on 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and 1 oz. Sunshine Minting Silver Rounds.

Platinum:

Spot Palladium prices opened this week at $331.00, and ended the week up $7.00 at $338.00. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars are consistently popular palladium items.

Silver prices in both New York and London retreated from last week’s highs with both markets settling at weekly losses of more than 1.5 percent.

New York silver futures for December delivery closed Friday at $17.42 an ounce, declining 27 cents, or 1.5 percent, from last Friday’s close of $17.69.

London silver was set to $17.31 an ounce, marking a weekly loss of 32 cents, or 1.8 percent. However, the metal is still up a remarkable $6.52, or 60.4 percent, from the Dec. 31 fixed price of $10.79 an ounce.

"Despite our reservations in the short term, we are very bullish on silver longer term," Sean Rakhimov from http://SilverStrategies.com said. "More importantly, we believe that the next big move up in silver is about to begin. Not tomorrow, not next week, but in the medium term."

London precious metal weekly prices follow:

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Gold hit another record high this week, as the yellow metal moved above $1,070.00 per ounce. “There’s lots of concern about the weakness of the dollar, and this had been driving gold,” said Peter Fertig, owner of Quantitative Commodity Research to the financial website Bloomberg.com. “The fear that central bank exit strategies will come too late to prevent inflation is also giving support to gold.”

As the U.S. Dollar continues to slide, gold may continue its climb to even higher prices. Talks of foreign countries replacing the dollar as the world’s reserve currency were still present in the marketplace this week. China, among others, is considering how to diversify its foreign exchange reserves which lends merit to the continued weakening of the U.S. Dollar. For example, the Dollar Index, a measure against six major currencies, fell about 14% since March, while gold rose about 13% during that same period.

The U.S. Commerce Department released reports this week saying that U.S. business inventories fell by 1.5% in August. This represented the largest drop in the 17 years that the data has been collected. The decline was also the 12th in a row and is an indicator that businesses are still cutting back to deal with weak consumer demand.

APMEX is proud to announce that we have been selected by the Austrian Mint as one of the exclusive distributors of the very limited edition 20-ounce Gold Philharmonic Coin. This coin has an extremely low mintage of only 6,027 coins, of which only 2,009 will be available for sale in the United States. APMEX has these beautiful coins in stock and ready to ship. Enjoy your weekend and thank you for choosing APMEX for all of your precious metal needs.

Gold:
Spot Gold prices opened this week at $1,051.80. The high during the week was on Wednesday, October 14th at $1,070.50, while the low for the week was on Friday, October 16th at $1,042.20. Gold ended the week with a gain of $2.80 at $1,054.60. This week, 2009 1 oz. Gold American Eagles, 2009 1 oz. Gold Buffalo Coins and 1 gram APMEX Gold Bars were some of the most popular items that investors purchased.

Silver:
Spot Silver prices opened this week at $17.79. Silver reached a high of $18.06 on Wednesday, October 14th. The low for silver occurred on Friday, October 16th at $17.18. Silver ended the week down slightly at $17.50. This week 2009 1 oz. Silver American Eagles, 2010 1 oz. Canadian Silver Maple Leafs and APMEX .999 Fine 1 oz. Silver Bars were quick sellers on the APMEX website.

Platinum:
Spot Platinum prices opened this week at $1,344.80, and ended the week up $5.90 at $1,350.70. The most popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $322.00, and ended the week up $8.90 at $330.90. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10 oz. Pamp Suisse Palladium Bars sold quickly on APMEX.com.

Numismatics:
The spot price of Silver has certainly made its impact felt here at APMEX. Peace Silver Dollars grading from Very Good to Extra Fine have been giving Cull Silver Dollars a run for their money as APMEX’s leading choice among investors and collectors. These coins were minted between 1921 and 1935 and they contain .77344 ounces of pure silver. They are an excellent way of positioning your portfolio or collection in silver. Morgan Silver Dollars that grade Extra Fine also continue to arouse investors as silver maintains its slow but steady rise. The smart investors are continuing to add these Silver Dollars to their portfolio on a regular basis.

As we continue our series on Silver Dollars we will be getting into more of a collector’s state of mind – by discussing VAM’s. What is a VAM? A VAM is a specific die variety of silver dollar as defined by Leroy Van Allen and A. George Mallis. Many of these varieties are very highly collectible. In fact, there are Silver Dollar collectors that only collect VAM’s. There is a case to be made that every Morgan Silver Dollar is a VAM, however, there are only a few dozen varieties that are popular and worth considerable sums of money.

Ironically, the more interesting sounding names such as Scarface, Alligator Eye, Spitting Eagle, and Hot Lips, are the more sought after varieties, regardless of their rarity. As there were hundreds of thousands to millions minted, there can be multiple VAM’s for the same date and mint mark. Both the Scarface and Hot Lips varieties can only be found on the 1888-O. Because of the cost involved in collecting and attributing VAM’s, many are graded by a third party grading service. But there are many specialists in the hobby that can easily decipher one VAM from another. APMEX has its very own VAM specialist and has a wide variety of VAM silver dollars in both certified and uncertified states. Click here to view our complete list of VAM varieties!

Silver coin melt values registered fresh highs last week, displacing the previous peaks reported just three weeks ago. The gains came as a result of record silver prices, with London silver reaching $17.80 an ounce on Thursday.

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Despite ending lower on Friday, silver prices blasted off this week with London silver surging 8.8 percent and New York silver soaring 9 percent. To the numbers…

New York silver futures for December delivery closed Friday at $17.69 an ounce, jumping $1.46 from last Friday’s close of $16.23.

London silver roared ahead $1.42 on the week to end Friday at $17.63. The metal is up an incredible 63.4 percent for the year as compared to the $10.79 closing price on Dec. 31, 2008

"There are better opportunities in silver and palladium," Jim Rogers, a famed investor known for his bullish calls on commodities, was quoted Thursday on MarketWatch. "Silver is still 70% below its all-time high,” while palladium, standing at around $310 an ounce, is also much lower than its high above $1,000 an ounce hit in early 2001."

London precious metal weekly prices follow:

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This week, Gold broke through its all time high and set a new benchmark at $1,061.10 per ounce. Concerns about the weakened U.S. Dollar and a second economic downturn, along with increased risk of higher inflation, were the leading causes for the commodities boost this week. Other factors had an impact as well, such as former Federal Reserve Chairman Alan Greenspan’s comments that unemployment will continue to rise in the United States for some time.

Rumors of Gulf Arab states along with Russia, China, Japan and France replacing the U.S. Dollar as the standard for trading oil surfaced in London this week. Though this report was later denied, the U.S. Dollar dropped even further, which in turn increased precious metals appeal to investors.

A Bank of America Merrill Lynch analyst has predicted that Gold prices will hit $1,500 an ounce in 2011 when oil prices move back above the $100 a barrel mark. Additionally, Francisco Blanch, head of Global Commodity Research, said that for the world economy to resume growth of 5%, commodity supplies will have to expand by a similar rate which will create shortages due to emerging market growth. Savvy investors will pay close attention to these events and use precious metals as a hedge against inflation.

This week, the United States Mint announced that it will offer for sale 2009 one-ounce American Buffalo Proof Gold Coins and one-ounce American Eagle Platinum Proof Coins. The tentative release dates for these products are October 29th and December 3rd, respectively. In addition, the mint will release one-ounce 2009 American Buffalo Gold Bullion Coins on October 15th and the fractional 2009 American Eagle Gold Bullion Coins in the one-half, one-quarter and one-tenth ounce weights on December 3rd.

This week, APMEX customers took advantage of low premiums on 2010 Silver Canadian Maple Leafs. They also had the opportunity to pre-order their 2009 American Buffalo Gold Bullion Coins. Both offers had a very high response due to recent economic events that make the flight to precious metals extremely attractive. To view a full list of bullion items, visit APMEX.com — the Gold Standard in Bullion Trading.

Gold:
Spot Gold prices opened this week at $1,001.20. The high during the week was on Thursday, October 8th at $1,061.10, while the low for the week was on Monday, October 5th at $1,001.20. Gold ended the week with a gain of $48.90 at $1,050.10. This week, 2009 1-oz. American Gold Buffalos Coins, 2009 1-oz. Gold American Eagles and Random Year 1-oz. Canadian Gold Maple Leafs saw tremendous demand in an upward market.

Silver:
Spot Silver prices opened this week at $16.20. Silver reached a high of $17.95 on Thursday, October 8th. The low for silver occurred on Monday, October 5th at $16.03. Silver ended the week up $1.55 at $17.75. This week 2009 1 oz. Silver American Eagles, 2010 1-oz. Canadian Silver Maple Leafs and 1 oz. APMEX .999 Fine Silver Bars held their own in the gold rush.

Platinum:
Spot Platinum prices opened this week at $1,284.00, and ended the week up $55.00 at $1,339.00. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 2009 1-oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $300.50, and ended the week up $23.60 at $324.10. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 10-oz. Credit Suisse Palladium Bars continue to keep the eye of focused investors.

Numismatics:
It is of great interest this week to note that the spot price of Gold, and to a lesser degree that of Silver, has been soaring. Collectors and investors alike have been clamoring for both metals. APMEX has a wide variety of choices which have been selling very quickly as many financial advisers and analysts believe this is only the beginning of a historic rise in the metals market.

APMEX’S best seller this week in terms of numismatic silver has been Cull Silver Dollars which are a mixture of both the Morgan and Peace series. These coins contain 90% silver and are selling as low as $1.69 over melt. This is an excellent investment if you are looking to create a position in silver. As the spot price of silver continues to rise, so does the value of dollars in Almost Uncirculated and Brilliant Uncirculated conditions. These coins can be purchased for their collector value, but they are also purchased quite steadily for their bullion value as well.

This week APMEX will highlight the 1921 Peace Silver Dollar. This year was a transitional year for the US Mint. It had struck Morgan Silver Dollars for the first time in 16 years, but it was also the last time. Between December 28th to the 31st 1,006,473 1921 Peace Silver Dollars were minted.

The coin, designed by Anthony de Francisci, was struck in high relief, which means that the design was even with or above that of the rim. This caused an extremely weak strike on the examples that were struck later, as the pressure to strike each coin was lessened. The evidence is most noticeable on the Obverse around the ear and on the Reverse where it lacks feather detail on the eagle’s breast. Many Uncirculated 1921 Peace Dollars are graded as Extra Fine or Almost Uncirculated incorrectly, because of this weak strike. A large number of the 1921 Peace Dollars do not have blazing luster as one would expect to see on uncirculated specimens, while others, exhibit overwhelming luster. This is one of the few key dates in the Peace Silver Dollar series and there has always been a high demand for these coins as it was struck in high relief and it is the first year of issue. This is a highly collectible series as it is America’s last 90% silver dollar!

Silver enjoyed weekly gains, albeit slight, following last week’s trouncing when the metal lost more than 5%, breaking a four-week winning streak and falling from 2009 highs.

New York silver futures for December delivery closed Friday at $16.23 an ounce, rising 17 cents, or 1.1% for the week.

London silver, which is set earlier on North American business mornings, rose a penny, or 0.1% to $16.21 an ounce.

"Metals investors are focusing on the trends in the dollar, which is being used as a gauge for risk appetite, but the dollar’s upside is fairly limited, and that will in turn keep the metals markets supported," Tom Pawlicki, precious metals and energy analyst at MF Global, was quoted on Reuters.

For the year, London silver is up $5.42, or 50.2%, from the $10.79 closing price on Dec. 31, 2008. It reached a 2009 high of $17.38 on Sept. 17.

London precious metal weekly prices follow:

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Just when Wall Street wanted you to think it was okay to wade back into the stock market, some all too familiar sharks continued to muddy the water for investors.

The Fall of 2008 marked the beginning of the biggest financial down slide in the U.S. since the Great Depression. Unfortunately, not much has changed in the big picture. This week, hopes of financial healing took another hit as the Labor Department released new unemployment data showing a 26-year high at 9.8 percent. The month of September saw 263,000 jobs added to the casualty list, bringing the total to 15.1 million Americans out of work.

Older Americans are particularly being affected by job market losses according to the Social Security Administration, resulting in a 23 percent increase in retirement benefits applications.

This news leaves many asking what goals the stimulus package has achieved, as it has not yielded positive effects on consumer spending, one of the primary factors in shoring up any economy. Meanwhile, the threat of massive inflation weighs heavy on investors’ minds.

Most self-directed investors have quietly been amassing silver and gold over the past year to protect their assets. Many gold and silver investors have been predicting these events for some time and have been stockpiling precious metals throughout the year.

Investors across the nation took full advantage of APMEX’s One Million Ounces of Surplus Silver Sale during the last week of September. At the end of the month, APMEX had just over one hundred thousand ounces remaining from the sale, proving that the flight to precious metals is not over – it is just beginning as people continue to realize the true value of preserving wealth with hard assets.

Gold:
Spot Gold prices opened this week at $992.40. The high during the week was on Wednesday, September 30th at $1,009.00, while the low for the week was on Tuesday, September 29th at $984.70. Gold ended the week with a modest gain of $11.00 at $1,003.40. This week, 2009 1 oz. Gold Eagles, 2009 1 oz. Gold Maple Leafs, Gold Sovereigns and 1 oz. Gold Krugerrands were the most popular items investors purchased.

Silver:
Spot Silver prices opened this week at $16.06. Silver reached a high of $16.63 on Wednesday, September 30th and repeated the high on Thursday, October 1st. The low for silver occurred on Monday, September 28th at $15.80. Silver ended the week up $0.15 at $16.21. This week 2009 1 oz. Silver American Eagles, 1 oz. APMEX Silver Rounds, ½ oz. APMEX Silver Rounds and 2009 1 oz. Silver Philharmonics were steady movers on the APMEX website.

Platinum:
Spot Platinum prices opened this week at $1,279.70, and ended the week up $6.30 at $1,286.00. Many investors continue to be genuinely interested in platinum. Popular platinum products for this week included 1 oz. Pamp Suisse Platinum Bars, 2009 1 oz. Platinum Canadian Maple Leafs and 1/10 oz. Platinum American Eagles.

Palladium:
Spot Palladium prices opened this week at $294.00, and ended the week up $6.50 at $300.50. 2009 1 oz. Palladium Maple Leafs, 1 oz. Pamp Suisse Palladium Bars and 1 oz. Palladium Lewis & Clark Rounds were popular with investors.

Numismatics:
Unquestionably, the most collected coin in the world is the Morgan Silver Dollar. This coin was named after its designer, George T. Morgan, and minting began in 1878. The series culminated in 1921 after a 16-year absence, between the years of 1905 and 1920. Beginning this week, APMEX will highlight a particular date and mintmark of silver dollar and share this information with you. These reports may unlock some of the reasons why this particular series of coins has become so popular. Is it the beautiful design? Is it because each coin contains .77344 ounces of pure silver? Whatever the reason, these coins are the most popular in the world. This week we will look at the 1889-CC.

It is not lost on any coin collector or investor that coins from the Carson City (Nevada) Mint command a premium. The 1889-CC is no exception. With a total mintage of only 350,000 business strikes, this is one of the rarest coins in the series. Frankly, this is a difficult coin in virtually every grade from Almost Good to Mint State-64. It is virtually impossible to find in any grades higher than that. These coins often exhibit a less than average strike, but they are often found with a satin-like to frosty luster. Many higher-grade examples display semi-proof like fields that are designated in the industry as ‘DMPL,’ which stands for Deep Mirror Proof Like. However, as one would rightfully assume, many of these coins have been well circulated, as these coins were spent throughout the remainder of the 19th century and into the 20th century. Consequently, there are a large number of circulated examples. Though 10 obverse dies and 7 reverse dies were used to strike these coins, there are no major die varieties within the date. As more collectors and investors learn about Morgan Silver Dollars every year, these coins may likely increase in value!