Last Updated : 08 March 2011 at 16:05 IST
Silver price to hit $80: Louise Yamada
- Commodities may witness mixed trend on concerns over QE tapering
- Spot gold prices traded on a negative note by around 0.1 percent today on the back of rising concerns of early QE taper after a string of positive data from the US. Also, mixed global market sentiments and declining trend in SPDR Gold holdings acted
- read more
Vietnam’s rice exports from the beginning of the year to December 5, 2013 stands at around ..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
While various predictions are doing the rounds on precious metals and crude oil, the focus these days is on where silver price is heading towards.
Precious metals expert Louise Yamada forecasts that silver price is going to certainly touch $80 in the months to come.
Yamada, Director and Head of Technical Research for Smith Barney, says King World News in an exclusive interview that silver price is going to “$40, $45, $60, $75 and $80 over months to years.”
On gold price, that is what she had to say: “Gold looks fine as it is moving to a new high. Gold is probably on its way to $1,500 and then $2,000. Silver is outperforming right now, but they take turns so that is normal. Gold remains in a structural bull market that was initiated in 2002.”
Yamada said: “Silver has 60% industrial usage, but because there are still the monetary concerns out there, silver represents a less expensive alternative to owning gold.
“I think that silver has lifted out of a 30 year base and the whole concept of the longer the consolidation, the greater potential upside. Silver is clearly in a structural bull market.
“The point and figure calculations off of this base are $40, $45, $60, $75 and $80 over months to years.”
On the heating up of crude oil prices, Yamada has the following to predict: “Oil came out of a two year consolidation when it went through $92 and we had a target of $100 which it has reached. We have further targets at $115, $125 and $140 intermediate to longer-term. Of course given the international upheaval all bets are off on the timing.”
- MCX Crude Oil remains positive, may turn bullish above 6110
- India, US Gold futures neutral, firm data continues to weigh
- Kapas futures positive on short covering, may trade range bound
- Silver to average $19.5 an ounce in 2014; Gold at $1310 an ounce: Barclays
- Develop India Agriculture for multilateral trade: ASSOCHAM
- US Gold steadies after sharp fall; MCX Gold, Silver negative