Waves of money at his highest level inflation hedge, use of the industry

April 25, 2011, 2: 56 pm EDT by Glenys Sim and Kyoungwha Kim

April 25 (Bloomberg) - Silver rallied to a record level investors seeking to protect their wealth against the acceleration of inflation and a weakening of the dollar with holdings in a metal benefiting also from economic growth. Spot Gold has also reached a record.

Delivery immediate silver soared up to 5.4% to $49.79 per ounce, beating the previous peak, which, according to research, GFMS Ltd. was of $49.45 in 1980. The metal was $49.0788 to 2 h 40, at Singapore, for a ninth day and together win longest run since a gain of 11 days in March 2008.Precious metals are magnet to the investor concern that Central Bank programs to boost economic growth with extremely low interest rates and increase of the offer of money will boost inflation and hurt currencies including the dollar. Silver is the best performer last year on the Standard & Poor GSCI Index of raw 24, before cotton, coffee and sugar. "The increase has been dramatically fast, Peter Hickson, an analyst at UBS AG in Hong Kong, said before the prize money record of today has been reached. The metal for immediate delivery takes end of March to $37.665. "The momentum of the request is clearly with it."Cash has more than doubled last year, exceeding the gains gold and copper, on speculation that the currency will be degraded and inflation if will accelerate after that Governments spend $ 2 trillion to stimulate their economies from the worst recession since the second world war.The dollar has fallen close to a minimum of 16 months against the euro on speculation that the Federal Reserve will continue to borrow fresh near zero while officials of the European Central Bank of the signal further rate increases. Fed Chairman s., Ben Bernanke held a press conference after the Declaration of the Federal open market Committee on 27 April, after a two-day meeting in Washington. "Market where he likes '"Silver long term really will end up in a blood bath, but in the short-term the market loves,"Dominic Schnider, Director of research at UBS AG wealth management, said in an interview with Bloomberg Television today. What is called the relative strength of the commodity index, which can point to a decline when it is over 70, was at 90.711 today, according to data from Bloomberg.Demande of money investment climbed 40 percent to a record high in 2010 and the use of manufacturing jumped to a maximum of 10 yearsGFMS said in an April report published by the Silver Institute based in Washington. Assets held in products exchanged-traded pink to a record 15,509.54 tonnes on 12 April, data compiled by Bloomberg shows four providers.Silver July-delivery on the Comex in New York jumped as much as 8.2% to $49.845 per ounce today, before the Exchange at $48.925. The record price is $ 50,35 ounces, also set in January 1980, according to the Exchange. Gold for immediate delivery climbed up to 0.7% at $1,517.98 per ounce. "Investment Haven'"Silver definitely benefits from the application of overflow of gold as an investment haven,"said Li Ning, analyst of the future International of China (Shanghai) Co. An ounce of gold bought as few as 30.5121 ounces of silver today, the lowest level since September 1980.Silver is the precious metal that is used in industry and found in products of solar panels for plasma displays and chemical catalysts. In India, future of money also reached a record 73,600 ($1,655) rupees per kilogram on the Multi Commodity Exchange of India Ltd. today. "It is mainly driven by speculative buying, with investors considering the record for some time now," Yang Shandan, a trader at Cinda Futures Co., said of Zhejiang in China. " "We could do a bit of profit-taking now that we pushed passed the top".Consumer prices are accelerating China in India as oil climbed to a two-and-half year high after that violence in the Middle East and Africa threatened to disrupt supplies. China consumer prices, the fastest in the world major economic growth, could reach between 5.2% and 5.5% in April, according to a report on April 24 from wave of China International Capital Corp.After silver in 1980, Nelson and William Hunt of Dallas have been recognized guilty in 1988 of conspiracy for trying to manipulate prices and has been ordered to pay $ 130 million.Among other precious metals, platinum acquired for a fourth day, the increase of 0.8% to $1,836.75 an ounce, the highest price since March 7, and palladium has increased as much as from 1% to $775 an ounce.

-With the help of Madelene Pearson in Mumbai. Editors: Jake Lloyd-Smith, Jarrett banks

To contact the reporters on this story: Glenys Sim to Singapore to gsim4@bloomberg.net; Kyoungwha Kim at Singapore to the kkim19@bloomberg.net

To contact the editor responsible for this story: James Poole at jpoole4@bloomberg.net

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Sea piracy attacks reached a record level

A watchdog maritime world said piracy of sea in the world hit a record of 142 attacks in the first quarter of this year as the Somali pirates are becoming more violent and aggressive.

The International Maritime Bureau piracy centre in Kuala Lumpur, Malaysia, statement says is 97 attacks occurred off the coast of Somalia, up sharply from 35 in the same period last year.

It is said attackers seized 18 ships in the world, including three large oil tankers, in the period January-March and captured 344 crew members. Pirates also killed seven crew members and wounded 34 in the quarter.

Director of the centre based in Kuala Lumpur, Pottengal Mukundan, said Thursday that there was a "dramatic increase in violence and techniques", used by Somali pirates to increased against patrols by international marine.

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The Japan PM asks urges calm as raised nuclear level

Prime Minister urges public not to panic after the Government boosted the level of severity of the crisis in a nuclear power plant it in the damaged by the tsunami to the highest rating - on an equal footing with the 1986 Chernobyl disaster.

Prime Minister Naoto Kan urged people in a television address to focus on the recovery of the disaster of the country.

He said "Right now, the situation of the nuclear reactor at the Fukushima plant has been stabilizing step by step". "The amount of radiation leaks is declining." "But we are not at the stage but where we can let our guard."

Japanese regulators said that they raised the rating of five to seven after new leaks of radiation of the Fukushima Daiichi plant assessments.

Monitoring of nuclear power in the country, said that, while the stricken plant radiation emission rate is only about 10 percent of this output to Chernobyl, the crippled Japanese facility issued still an enormous amount of radioactive substances that pose a risk over a large area.

So far, the Chernobyl disaster, in Ukraine was the only event assessed at level 7. The crisis of Fukushima was evaluated previously at level 5, the same as the incident at Three Mile Island 1979 in Pennsylvania.

Although the upgrade was spectacular, two - Fukushima and Chernobyl - disasters are not that similar, experts say that.

Chernobyl, it was the heart of the reactor itself exploded, releasing an enormous amount of radioactive material in a very short time. Fukushima had a less critical hydrogen explosion. And the total amount of the radioactive particles released so far seems to be only a small fraction of that observed in Ukraine.

Japan nuclear agency official Hidehiko Nishiyama said 29 people had died of acute radiation at Chernobyl, but no there were no fatal to Fukushima radiation losses.

The upgrade has at least two new earthquakes with a magnitude of Japan hit Northeast 6.0 Monday evening and Tuesday morning. The region was rocked by numerous aftershocks since then. Up to what the subducting plate moved in position, all quake in the area of rupture-- in this case, 300 kilometres long by 150 kilometres wide on the coast of the Japan which is less force that the initial earthquake is regarded as a rebuttal.

Workers operate world mounted on a truck, a modified Putzmeister 70Z, most large concrete pump to pump water contaminated unit 4 of the nuclear power plant in Fukushima Daiichi Tuesday. (Tokyo Electric Power Co./Associated Press)

It is believed that the 9.0 magnitude 11 March earthquake and the tsunami, that it has generated have caused damage of $ 310 billion. Japanese officials have updated the balance sheet of the victims of the disaster of 13,219 people. More than 14,000 others are still missing and more than 145 000 people living in the centres of evacuation across the country.

Fukushima Daiichi plant was spewing radiation since disasters and even a month, officials say they don't know how long it will take to cool reactors there.

Chinese Premier Wen Jiabao expressed concern Tuesday radiation reaches the ocean. He told his Japanese counterpart that the country must seriously examine the effects on the marine environment and the neighbours of the Japan.

He also reminded Prime Minister the it must strictly respect international law and the question of full reports in China.

In a gesture without report with replicas of Monday, the Japanese Government is expanding the area to evacuate around the plant 30 kilometres from 20, citing the risks of the cumulative radiation exposure.

The most recent calculations of the Japan Nuclear Safety Commission found that a zone stretching 60 kilometres north of the nuclear power plant and 40 kilometres to the South were, in the month since the earthquake, have been exposed to radiation equivalent to the annual dose limit. In the old zone of 20 kilometres of evacuation, the radiation exposure has reached up to 100 times the annual limit.

The factory itself, the Tokyo Electric Power Co., known as TEPCO, has resumed efforts to contain the radioactive leak of the plant, after a delay of one day because of strong aftershocks.

TEPCO will begin pumping contaminated water from the reactor No. 2 of Tuesday and transfer to a condenser, after verification of the safety equipment.

The radioactive water was impeding the work to restore the functions of cooling in the damaged reactors. He also resumed by injection of nitrogen, in the containment of the reactor No.1 vase late in the night of Monday said TEPCO. Which aims to prevent other explosions of hydrogen.

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