Most Analysts See Silver Rising by Late 2015, Expect Fed Action

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Silver could struggle in the early part of 2015 as markets continue to factor in expectations for Federal Reserve tightening and as growth in industrial demand remains constrained by soft economies in other parts of the world, Kitco News said. But by the end of the year, many analysts see silver regaining its luster.

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For instance, TD Securities sees silver averaging $15.50 an ounce in the first quarter but $19.50 in the fourth. Commerzbank looks for the second quarter to be the weakest of the year with an average $16 forecast, but for improvement to $18 in the 4th quarter.

Some of the average full-year 2015 forecasts made by firms so far include Natixis, $15.20; Citi Research, $16.50; Commerzbank, $17; HSBC, $17.65; and TD Securities, $17.81. Among consultancies, Metals Focus looks for $16.20 and CPM Group $16.65.

On Monday, December 15, the day’s biggest mover was the price of Indian silver, which saw a 2.1% decline to INR 38,911 ($622.32) per kilogram. The price of Japanese silver dropped by 1.7% to JPY 638.00 ($5.40) per 10 grams after holding steady. The price of Chinese silver closed at CNY 3,600 ($582.56) per kilogram. Following a couple days of improvement, prices fell by 1.6%. US silver ended the day at $16.89 per ounce, after the 1.0% drop yesterday.

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The price of US gold bullion fell 1.0% to $1,214 per ounce. At CNY 242.90 ($39.31) per gram, Chinese gold bullion fell 0.5% on Monday. The price of Indian gold bullion changed direction with a 0.5% drop. After two days of improving prices, the metal finished at INR 27,215 ($435.26) per 10 grams. Japanese gold bullion saw little change in its price on Monday at JPY 4,645 ($39.31) per gram.

Japanese platinum bar prices saw a 1.8% decline to JPY 4,653 ($39.38) per gram. The price of US platinum bar declined 1.5% to $1,217 per ounce. Chinese platinum bar closed 1.1% lower at CNY 260.00 ($42.07) per gram.

The price of US palladium bar fell 0.7% to $806.00 per ounce. The price of Japanese palladium bar held steady at JPY 3,105 ($26.28) per gram. The price of Chinese palladium bar remained essentially flat at CNY 180.00 ($29.13) per gram.

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