World Silver Survey Forecasts Continuation of Double-Digit Silver Prices
Source: Mineweb.com (5/23/07)
The World Silver Survey 2007, released today by the Silver Institute, forecasts that the current fundamental/supply demand picture for silver is "at least supportive of prices well into double-digits," in the absence of a major externally-driven setback to industrial demand.
The authors of the survey - London-based metals consultant GFMS - suggested that "for silver to break out to the upside or downside would therefore seem to require intervention from investors." A downside could occur if a slide in global GDP growth prompted investors to liquidate their positions.
...The average silver price averaged US$11.55 in 2006, an increase of 58%, and a 26-year high, according to the survey. "Equally remarkable is that the price has been sustained at such high levels since the ETF-driven peak of close to $15 was reached in May 2006."