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Friday, December 2, 2011

HSBC Predictions Silver price 2012 - 2013

HSBC Predictions Silver price 2012 - 2013 : HSBC has lifted its silver price forecasts for 2012 and 2013 amid expectations that strong bar and coin investment demand, together with growing interest in silver exchange-traded funds, will push the market higher, the bank said late Wednesday.

It now expects the silver market to average $34 a troy ounce next year, and $32/oz the year after–both of which are a $2/oz increase on HSBC’s earlier forecasts.

The spot silver market has experienced sharp moves in price this year, rising as high as $49.831/oz in April, before falling as low as $26.100/oz in September as macro economic concerns weighed on industry-linked metals.

“Silver prices [in the coming years] will reflect the interplay of many factors. The single biggest bullish factor, in our view, will be renewed investor demand,” analyst James Steel said.

HBSC is forecasting ETF demand to absorb 50 million ounces of silver next year, after a net disinvestment of 15 million ounces in 2011. Demand for silver investment coins and bars should also continue at historically high levels, the bank said.

“Coin and bar demand is a growing component of the silver market” Steel said. “We believe that demand for these products reflects widespread retail investor concerns about inflation, economic uncertainty, and fiscal profligacy, European sovereign-debt risks, and geopolitical tensions.”For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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