SOURCE: The Bedford Report

The Bedford Report

March 09, 2011 11:25 ET

Silver Wheaton and US Silver Corp Forecast Strong Upside for Precious Metals

The Bedford Report Provides Analyst Research on Silver Wheaton & US Silver Corp

NEW YORK, NY--(Marketwire - March 9, 2011) - The price of silver has been on the upswing in recent weeks as unrest in the Middle East has led investors back into the precious metals market in order to avoid currency fluctuations. Silver is an interesting investment opportunity as it can be considered both a precious metal and an industrial metal. Besides jewellery, ornaments and utensils, silver is also used in electrical contacts and conductors, in mirrors and in catalysis of chemical reactions. The Bedford Report examines the outlook for the Silver Market and provides research reports on Silver Wheaton Corporation (NYSE: SLW) and US Silver Corporation (PINKSHEETS: USSIF). Access to the full company reports can be found at

Industrial demand for silver continues to surge, particularly in emerging markets due to new technologies in solar energy, water purification and medical instruments. China's industrial silver demand has more than doubled in the last decade due in part to the nation's surging electronics industry. China was a net exporter of silver for many years but by 2007 the country had become a net importer of the metal.

The Bedford Report releases regular updates on The Silver Market so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

On Monday, the price of silver flirted with 31 year highs of $35.86 an ounce. Since the end of 2009, the metal's price has surged more than 110 percent, leading some analysts to argue prices have peaked. These concerns have led many producers to increase hedging. Hedging programs allow producers to lock in current silver prices for future production, guarding against any potential price declines in the future.

US Silver Corporation is hedging some silver production in 2011, for 500,000 ounces, or 20 percent of its output. US Silver receives the market price at the time of sale on the remaining 80 percent of production not hedged in 2011. The Company has not hedged any production in 2012 or thereafter.

Silver Wheaton's CEO, Peter Barnes, said in an interview with CNBC that silver prices could go through $50 in the next 2-3 years, and that hedging the company's silver is not on the horizon. For the fourth quarter of 2010, Silver Wheaton reported that its net earnings more than doubled to $123 million. The company's fourth-quarter operating cash flows climbed 76% to $124.7 million.

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