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Saturday, January 21, 2012

silver prices prediction january 23 -27 2012

silver prices prediction january 23 -27 2012 ; Silver futures surged Friday to their highest level in six weeks, as hopes for steady demand for the precious metal replaced the economic gloom that dragged prices lower last month.

Silver price, even more than gold price, sharply increased during last week by 7.29%; this week’s average price reached 30.72/t oz which is 3.68% above the previous week’s average $29.63/t oz.

The most actively traded silver contract, for March delivery, rose $1.166, or 3.8%, to settle at $31.675 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest ending price since Dec. 9.

About half of silver demand comes from industrial uses, making the metal more sensitive to some economic indicators than gold. Because of its conductivity and durability, silver is used extensively in electronics for cellphones, computers, automobiles and solar panels.

The recent trend of better-than-expected economic data from the U.S. and top commodities consumer China has helped to blunt the pessimism that weighed on the silver market at the end of 2011.

The threat of dwindling physical demand as China celebrates the Lunar New Year is curbing participants' China is the second-largest gold-consuming country after India. silver price forecast for next week decreased 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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