Silver Bear Market Seen Ending

Bloomberg reported that some analysts see an end to the bear market for silver.

As quoted in the market news:

The metal may average $38 an ounce this quarter and rise to a record $42 by the final three months of 2012, compared with $31.97 at 9:19 p.m. in Singapore yesterday, according to the median in a Bloomberg survey of 11 analysts.

Societe Generale SA analyst David Wilson said:

“The backdrop is still very supportive for gold and we think that silver will leverage off the back of that. Emerging markets are going to be important for demand for sure.”

Click here to read the full Bloomberg report.