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25 March 2011

Contrarian Gold & Silver Investors May Feel Reassured By Bearish Comments from Institutions

Institutional Investment survey talking down precious metals likey to buoy contrarian Gold and Silver holders

An almost complete lack of negative sentiment among Precious Metals commentary over the past six weeks or so, may have worried contrarian investors in the yellow and white metals. With Gold and Silver having defied doom and gloom predictions up to now, and contrarians enjoying excellent gains, nothing is more worrying than when Institutions and mainstream media are telling you Gold and Silver are good.

However in an article by Adrian Ash of BullionVault, an institutional investors survey offers comfort to contrarian investors by declaring "Markets Grow Tired of Worries Over Euro Debt, Libyan War, Japan Crisis". The article goes on to describe Kevin Norrish of Barclays Capital quoting "[Investors] don't believe in the gold story anymore," while announcing the bank's latest commodity investment survey of institutional players. "Not one single respondent" chose gold bullion as the likely best performer in 2011, Norrish said.

However with the market having largely ignored the Portugal debt crisis, and rumours of frantic activity in Madrid to avoid a Spanish repeat of the Lisbon situation, it is likely that Eurozone debt worries will resurface in the precious metals markets soon.

At steady increases in traffic and click throughs to Bullion product indicated renewed interest from smaller investors, with Silver in particular leading the way on Thursday.

At time of writing, premiums on 1 ounce Silver Eagles at auctions closing soon were priced at 13.5% over the Silver fix.

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