SHANGHAI, Jan. 15 (SMM) – In 2014, precious metals market surged in Q1, fluctuated in Q2, dropped in Q3, and struggled at lows in Q4.
Which direction will silver market follow in 2015?
“Precious metals market will trend lower in 2015, and silver prices are expected to move in tandem with gold,” said an analyst from Galaxy Futures, expecting global silver prices to trade at $12-18/oz.
Ruida Futures also echoed the views, noting in its research report that silver prices will drift lower in 2015 as precious metals market will remain under downward pressures in the long run.
“The most active Shanghai silver futures will trade between 3,000-3,750 yuan per kg, the company forecast.
The Bank of Montreal estimates global silver prices to average at $17.5/oz for the year of 2015.
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