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Silver prices could decline to $24/oz this year—CPM Group

Posted on 17 May 2013

New York-based commodities research consultants, CPM Group, forecast that silver prices will weaken further this year, “weighed down primarily by the increased price sensibility among investors.” “Prices could potentially decline as low as $24 during the year,” CPM warned in its Silver Yearbook 2013, which was made public Thursday.
Prices averaged US$31.17 last year, down 11.7% from the record nominal annual average high or $35.29 in 2011. “Investors were interested in owning silver, but were only willing to buy more when prices softened. When prices rose they stepped away from making fresh purchases and often sold into the price rally,” said CPM…………………………………………Full Article: Source


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