| The worst may be over for the silver price, Bank of America Merrill Lynch Global Research said, though the metal is unlikely to break higher from recent ranges. Industrial demand has been poor and subdued economic activity in the wake of the financial crisis has had a collateral impact on the metal, it said in a report.
Silver is down nearly 70 percent on the all-time high it hit in 2011 at $49.81 per ounce. But China’s market potential coupled with expansion plans that include heavy use of solar energy may provide upward impetus. Large volumes of silver are used in photovoltaic technology to generate solar power. While estimations differ, around 3 million ounces of silver are required to generate around 1 gigawatt of solar power. ........................................Full Article: Source
|