NEW YORK (August 25, 2010) – Jeffrey Nichols, Senior Economic Advisor to Rosland Capital (www.roslandcapital.com), had the following commentary based on recent market activity and the week ahead:

The now ten-year old bull market in precious metals has seen the price of gold move up well beyond it previous historical peak near US$875 reached briefly in January 1980. But silver has still not surpassed its all-time high of $50 an ounce -- and even remains well below its current cyclical high of $21 an ounce reached in 2008 -- leaving silver bulls disappointed but optimistic that huge gains are still ahead with the white metal ultimately reaching and surpassing its 1980 peak price in the years ahead. 

Even as investment demand for silver has soared, in part due to the introduction of silver exchange-traded funds in 2006, global macroeconomic trends have cut deeply into silver jewelry and industrial use while photographic use, once the largest consumer of silver, has continued to...