Silver News

Silver Price in 2005 Continues to Rise

(Washington, D.C. - November 21, 2005) The silver price in 2005, with strong underlying fundamentals and ongoing investor interest, continues to move higher.

Today, silver is trading at over $8.00 per ounce, a sharp contrast to 2003, when the silver price averaged $4.87 per ounce, according to the World Silver Survey 2005. Silver, which has the luxury of being both an industrial and an investment metal, is a key ingredient in many industrial applications, and that list is ever growing.

At a November 7 Silver Institute event in New York City, Philip Klapwijk, Executive Chairman of GFMS Ltd., the independent London-based precious metals consultancy, forecast that industrial fabrication would rise 6 percent for 2005. The increase in industrial demand to date in 2005 has primarily been driven by the rise in global GDP and the continued strength of the electronics sector. In addition, GFMS is forecasting a 14-percent increase in jewelry and silverware demand in 2005.

With respect to the silver price, Mr. Klapwijk stated that looking ahead to 2006, he saw more upside than downside from the (November 7) prevailing level of $7.50. Silver investment has experienced a resurgence so far in the 4th quarter of 2005, as new highs continue to be achieved due to stronger base metal and gold prices.

The Silver Institute is a nonprofit international industry association headquartered in Washington, D.C. Established in 1971, the Institute serves as the industry's voice in increasing public understanding of the value and many uses of silver.

For Further Information Contact:

Mike DiRienzo
The Silver Institute
1200 G Street, N.W., Suite 800
Washington, D.C. 20005
Tel: (202) 835-0185
Fax: (202) 835-0155