Waytung Global: Every Silver Lining Has A Cloud...

Online, May 6, 2011 (Newswire.com) - "Waytung Global" the Asian investment management group sounded a note of caution to delegates attending a recent industry symposium in Boao, China. "We are gold and silver bulls, not bugs," said the firm's equities director Stephen Taylor during an address on the seemingly perpetual rise in precious metals prices.

"There seems to be considerable speculative impetus underpinning the meteoric rise in silver prices this year and, as long term advocates of holding this undervalued asset, we know all too well how quickly gains can be wiped out," said a "Waytung Global" senior metals analyst.

Silver prices have rocketed by 31% so far in 2011 but despite strong fundamentals, the metal has a tendency to selloff heavily once rallies stall.

According to "Waytung Global", silver's appeal lies in its safe-haven asset status, its applications as an industrial metal and in its history as a monetary metal that holds its value better than paper currencies.

Despite these factors, the firm believes that any pullback in the price will be far sharper than any in its sister metal, gold.

Silver has recently traded as high as $42.51 whilst gold is range-bound between $1440 and $1478.