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Silver Price Doldrums May Be Overcome in the Short Term – Thomson Reuters GFMS

Averaging $31.15/oz, 2012’s silver price level was the second highest on record, despite an 11% drop in the silver price, says a survey sponsored by The Silver Institute.

by Dorothy Kosich,

While silver prices have definitely been battered in recent weeks, Neal Meader of Thomson Reuters GFMS suggested “unique factors” that contributed to the retreat in price may be overcome in the short term.

Meader, the head of precious metals research and forecasts for Thomson Reuters GFMS, cautioned that the lift, which originally wasn’t anticipated by Thomson Reuters GFMS until the second half of this year, could come sooner, briefly sending silver prices to $30 per ounce.

His remarks were made prior to the release of The Silver Institute’s World Silver Survey 2013 Wednesday morning in New York City.

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