Silver Rally Expected in Second Half of 2012

The silver price is closing in on a critical wedge pattern (Chart 1). I expect the silver price to rally in the second half of this year. If you haven't bought yet, I suggest this is the right time to do so.

Chart 1: Silver Price

To add even more rumors to the silver price, on King World News, a London trader reported that there was a huge Eastern buyer of silver three weeks ago. He bought a staggering amount of silver around $US 27/ounce. So everything is pointing to higher prices.