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Monday, August 15, 2016

Demand for Silver pushes expectation to $21.35 for 2017

Here's an interesting note from JP Morgan in Dow Jones Newswires. "Strong growth in China's solar sector is ramping up demand for silver, says JPMorgan, driving a 40% 1H increase in Chinese silver-powder imports. Solar-capacity installations there tripled from a year earlier in the period, helping ease concerns about a lack of industrial demand for the precious metal. Based on photovoltaic consumption and a bullish outlook for gold, JPMorgan boosts its 4Q average-price forecast to $21.21/ounce and sees $21.35 for all of 2017."

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