Last Updated : 16 November 2012 at 13:35 IST
'Silver may shoot up to $45/Oz in 2013’
Source :Commodity Online
Strong investment demand, higher gold prices on the back of monetary easing, rising inflation expectations and the persistence of ultra-low interest rates," are among the factors that will lure buyers to the safety of silver.
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By Col. Ajay
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NEW YORK (Commodity Online): Poor man's gold silver prices may shoot up from recent lows to as much as $45 an ounce next year, said Philip Klapwijk, the Global Head of metals analytics at Thompson Reuters GFMS.
Silver has been called the most volatile of metals. But silver's volatility is probably going to provide an opportunity for investors to push it higher.
Klapwijk said that "We are thinking prices will trend higher next year. I'm not convinced that we are going to $50. I think we will definitely see $40 to $45 prices."
“White metal prices may advance as much as 38% next year from recent levels, as a weak global economy spurs safe-haven demand for the precious metal,” he added.
"Strong investment demand, higher gold prices on the back of monetary easing, rising inflation expectations and the persistence of ultra-low interest rates," are among the factors that will lure buyers to the safety of silver, Klapwijk noted.
Global silver prices ended the United States day session slightly lower on Thursday. December silver last traded down $0.265 at $32.615 an ounce on the Comex division of the New York Mercantile Exchange.
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