By Jocelyn Aspa
Silver prices appear to be continuing their downward trend, dropping sharply on August 21 from $19.25 per ounce to to $18.82 per ounce as of 2:07 p.m. EST on August 23, hitting an overall two week low.
The significant drop Sunday night, however, marked a seven-week low, with pressures of
By Jocelyn Aspa
Last year, the silver price dropped drastically from $18.29 an ounce at the beginning of 2015 to $13.83 to kick start 2016. No doubt, the silver price has been on the rebound this year, rising 42.66 percent back up to $19.62. Here are a few silver price predictions.
Gold is headed for its third week of losses despite rising on Friday. Copper and oil are also down, though silver managed to post a 0.3-percent gain Friday morning.
Full-year silver price estimates for 2015 are looking fairly conservative, but the consensus seems to be that a weak start to the year may lead to a stronger finish. Read on to find out more about what’s in store for the white metal moving forward.
FastMarkets reported that according to HSBC, silver will record a deficit of 11 million ounces in 2015. In 2014, the white metal is expected to see a surplus of 3 million ounces.
Short-term investors “disillusioned by the inability of silver to rise strongly following the highs reached in 2011” are largely responsible for silver’s poor performance last year, CPM Group states in its Silver Yearbook 2014.
Mineweb reported yesterday that in its latest silver outlook, HSBC said it sees the white metal trading between $17.75 and $22.75 for the remainder of 2014.
Many analysts see silver staying steady at around $21 per ounce in 2014, but others believe a number of factors may push the white metal up.
Silver broke above $20 on Thursday as news surfaced that Turkey imported 41.6 metric tons of silver in December.
2013 was a rough year for resource investors, but it wasn’t all bad. In this two-part series, we take a look at 5 positive trends this year, along with 5 sectors we’d prefer to forget.
Silver had a rough 2013, and now most analysts are predicting that the white metal will average about $21 per ounce in 2014.
Silver prices were pushed down this week by anxiety about the end of quantitative easing, but Thomson Reuters GFMS and the US Mint provided some more positive news.
Word is that CPM Group and the Gold Anti-Trust Action Committee (GATA) plan to face off over silver and gold market manipulation at this year’s Silver Summit.
China and Japan’s plans to increase their solar generation capacity in the near future could give silver prices a significant price boost.
Driven by strong investment demand, silver reached the second-highest average price on record in 2012. But the average price in 2013 will likely be lower.
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