Mittwoch, 12. Dezember 2012

ScotiaMocatta - Precious Metals Outlook 2013

Precious Metals 2013 Forecast Silver November 2012

Executive Summary:

  • Silver has had a less volatile year so far, compared with 2011. Prices have established support above $26/oz, but there appears to be resistance around the $37/oz area
  • Investors’ confidence has returned this year, having been shaken during the post-April 2011 sell-off. ETF investors’ holdings are near all time highs and funds’ interest has returned
  • Silver’s fundamentals remain bearish as net of investment, the market remains in a supply surplus. Investor sentiment therefore remains crucial
  • We feel investors will continue to want to monetarise Silver as a means to preserve wealth and protect against currency debasement and financial risk
  • We remain bullish for Gold and as such are bullish for Silver too

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