According to Johann Wiebe, lead analyst for Thomson Reuters’ GFMS team, that trend is likely to continue.
Silver mine production fell by about 2 percent in 2016 and could decline even more this year. Here’s what investors need to know.
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.
The Silver Institute put out a press release that outlines its thoughts on 2016 silver market trends. Among others things, the firm believes that the silver price should “find solid ground this year.” Furthermore, it sees the silver deficit increasing on the back of lower supply.
Thomson Reuters GFMS published its “Interim Silver Market Review,” commenting that it expects the silver price to average $15.51 per ounce in 2015. Through to November 13, the price had averaged $15.91, down 18.3 percent from the same period last year.
In its latest silver forecast, The Silver Institute predicts that the silver market will see a 57.7-million-ounce deficit in 2015.
The Silver Institute reported that during the first half of 2015, there was an uptick in silver demand for jewelry and industrial applications.
iNVEZZ.com reported that according to Philip Newman of Metals Focus, the silver price will likely remain just under $16 per ounce for the next few months. In the fall, he sees the price rising to just under $17.
Resource Investing News recently spoke with Andrew Leyland of Thomson Reuters GFMS. His thoughts on silver demand from the solar industry are particularly interesting, especially in light of an article published Monday by The Telegraph.
May 5 brought the release of the World Silver Survey 2015, an extensive report conducted annually by Thomson Reuters GFMS on behalf of the Silver Institute. The document outlines key silver price, supply and demand trends for 2014 and includes some information into what may be in store for 2015.
CPM Group released its Silver Yearbook 2015 on Wednesday. But while the document is aimed at educating investors about silver market trends and fundamentals, it likely contains few surprises for those who’ve kept an ear to the ground. Overall, CPM sees the silver price averaging $16.93 per ounce in 2015,
iNVEZZ.com reported that Bank of America Merrill Lynch Global Research believes the silver price has made it “through the worst.” However, the entity doesn’t expect it to break out of its current price range in the near future.
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