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Silver Wheaton Corp. Message Board

  • sharpie3444 sharpie3444 Aug 7, 2013 7:36 AM Flag

    Low price aside, ‘silver still worth digging for’—HSBC

    Low price aside, ‘silver still worth digging for’—HSBC

    HSBC Precious Metals Analysts James Steel and Howard Wen Monday predicted Monday that the global silver surplus will likely widen to 177 million ounces this year, up from 108 million ounces in 2012.

    In their analysis, Steel and Wen forecast that silver mine supply will post a further gain in output this year, topping 800 million ounces. “Even with the recent price plunge silver prices remain above the costs of production for virtually all of the world’s notable silver mines,” they observed. “Producers therefore still have considerable financial incentive to maximize output, wherever possible.”

    However, the analysts suggest there are four sources of demand growth that may help provide a floor to silver prices: industrial demand, coin and bar purchases, a bottoming out of jewelry demand, and greater demand from India.

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