The current state of positive beliefs about gold is impacting silver’s impending predictions as forecasters believe it will possibly rise to $50 an ounce, riding high on gold’s success. HSBC relies on its gold’s affirmative forecast where it has prophecised that the precious metal will cost $1,850 per ounce in 2013. Investors are depending on these and similar forecasts for gold as they continue to analyze silver’s future. But what holds true for gold may not be for silver. They need to have a neutral view of silver, irrespective of what lies ahead for gold. In such situations, the future outlook for silver is raising concerns. Continue reading
Gold prices went down by Rs 150 settling at Rs 28,290 per 10 grams while silver price lost Rs 300 to Rs 64,400 per kg. The white shiny metal had plunged by Rs 1,000 in the last trading session on Saturday while the prices on silver coins also collapsed by Rs 1,000 to Rs 71,000 for buying and Rs 72,000 for selling of 100 pieces.
Looking at the global markets, gold prices decreased by 1.6% to $1,826.75 an ounce in Singapore while silver prices decreased by 1.1% to $41.02 an ounce.
According to the traders, an increase in the dollar and a fall of gold in Asian markets resulted in the weak interests in trading. In addition to that, due to higher prices of precious metals, retail customers held themselves back from buying the shimmery metals, said the traders.
There has been a lot of fanfare over gold in the global economy as a safe haven investment. Equity markets all over the world fell while US struggled to rear its head above debt in the last month. Continue reading