The year 2011 was pretty turbulent for precious metals. Still, analysts predict that gold and silver prices will go high in 2012 as both the shimmering metals are regaining their status as safe havens for investments and an alternative to bonds and funds.

Although the precious metals market was down last week, the players in the industry are confident that prices on silver and gold will rise for the 11th consecutive year and break the record in 2012. Many analysts predict that the faint global economy will boost prices on precious metals to all-time highs next year.

Silver, though considered as a cheaper alternative to gold, is expected to achieve its footing. It is predicted that investors will increase the exposure to silver due to increased usage in new applications and continued concerns over the stability of the global economy.

Several other factors will also support silver prices to rise in 2012.

As precious metals are considered the best option for cash liquidity, the market can’t rule out the trends of heavy selling. The weak global economy and uncertain euro zones, particularly in times of concern over cash liquidity, are considered catalysts for the new highs of gold and silver prices soon. And hence, the prices of precious metals such as silver and gold are likely to regain some of their shine in 2012.