| Mining Weekly reported that the Bank of America (BofA) has warned that the silver price could sink to $12 per ounce in the coming weeks. It has faced headwinds from both the industrial and investment sectors in recent weeks. As quoted in the market news:
BofA analysts said China’s silver imports had tapered off in the past couple of years, owing to ongoing weakness in manufacturing and investment activity. Jewellery demand had been somewhat disappointing, while photovoltaic installations were weak too, particularly in 2014, although they had rebounded this year, BofA said. Investment demand had also been muted, which was influenced, to some extent, by the losses especially retail investors sustained when the metal dropped from $50/oz...............................................Full Article: Source
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