Silver Breaks Out To New Highs Satori Group

Online, March 4, 2011 (Newswire.com) - As the turmoil in the Middle East reaches Libya, Yemen and Bahrain, "Satori Group" analysts are cautiously optimistic on the short-term outlook for silver prices.

The price of the metal often referred to as "poor man's gold" has broken out to fresh new highs at around $34 per ounce on the back of its past history as a monetary metal and the uncertainty surrounding the a Middle East region that has suddenly developed a taste for self-determination.

"Satori Group" have warned clients against entering the silver market until it consolidates at or around current levels. One analyst said, "Silver has lots of potential but it is notoriously volatile and has caused many a trader to be stretchered out nursing financial wounds sustained whilst trading it."

Some commentators suggest that it is the high price of gold that has seen many investors turn to silver given its swift appreciation since JP Morgan Chase announced the closure of its proprietary silver trading desks last August following intense speculation that it had deliberately manipulated the price of the metal for years by holding huge short positions.

"Satori Group" believes there is merit to the theory but maintain their view that silver remains an asset to be held over the long-term for best results.