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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.
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 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.
CPM Group believes long-term prices look set to weaken. Moreover, bulls may be prone to risk right now.