“HCS Worldwide” reportedly acknowledged that silver’s price had depreciated from its high at over $21 an ounce earlier this year to its current standing at $9.30 but suggested that silver was poised to recover in the medium to long term.
Silver’s use in industry has grown with the advent of RFID (Radio Frequency Identification)
A source close to “HCS Worldwide” said that while the European-based wealth management firm could not rule out further pullbacks, they are thought to believe that the effect of deleveraging on commodities and equities which is likely to end in the weeks and months going forward, will see the US dollar sell-off markedly and the value of precious metals appreciate.
“HCS Worldwide” continue to advise clients to acquire silver on pullbacks and recommend a number of silver mining firms as excellent leverage on silver’s future performance.
