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Silver likely to reach $21.50 an ounce this year
Jul 8, 2016 08:49Source:SMM
British bank HSBC sees potential for silver to hit $21.50 an ounce this year.
UNITED STATES July 07 2016 10:01 PM
NEW YORK (Scrap Register): British bank HSBC sees potential for silver to hit $21.50 an ounce this year.
Comex September silver closed Wednesday at $20.203 an ounce and was as high as $21.225 an ounce at the start of the week before a correction.
"Silver is back above $20 an ounce and gaining on safe-haven flows and overspill from the gold market," said HSBC.
"In addition to traditional retail demand, silver is also attracting technical and momentum trade buying. It looks that silver can reach $21.50 an ounce this year, although it may be subject to increased volatility."
HSBC
silver prices
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