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Friday, February 24, 2012

silver prices predictions feb 27 - march 2 2012

silver prices predictions feb 27 - march 2 2012 : Silver rose strongly this week and outperformed gold. Support for silver and for the platinum group metals, comes in part to hopes of the U.S. economy can stay on its moderate growth path.

Tully said the recent gains in silver have helped the gold:silver ratio to budge under the 51 area, to 50.41 as of Thursday, the lowest since early November. She said the stout rally silver had on Thursday was in part because the metal rose above its 200-day moving average, triggering resting buy orders.

“Interestingly, while our client flows were generally dominated by sellers, the market barely flinched and prices continued its climb higher. Such resilience could suggest that investors are starting to return to the market. With positive sentiment in gold continuing to grow, it would not be a surprise if some of that optimism is spilling over into silver. But we think it’s too early to make that conclusion just yet,” she said.

Barclays Capital technical analysts are also positive on silver, looking for it to move to the $35.70 area next week, with the gold:silver ratio falling to the 49.40 area.

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