“Report”: World silver prices to go up again - ANALYSIS

Silver exporters are dissatisfied with the price less than $15 an ounce

Baku. 26 November. REPORT.AZ/ Prior to approximately 5 months ago, the silver price was around $16-17 an ounce in the world market. Current price is $14-15 in the commodity markets, Report informs citing Bloomberg.

Danish Saxo Bank's head of commodity strategy Ole Hansen thinks that the silver cannot find its real price and this is firstly arisen from investors’ concern about acceleration of global economic growth. Because investments in precious metals, including silver, grow ahead of or during the economic crisis. There is not such a threat yet and the silver price is generally declining.

Bernard Dahdah, precious-metals analyst at French bank Natixis, said that the decline in silver price is temporary and it will be the ‘star’ in the precious metals market from 2019: "We see the gold and silver as a ‘safe haven’ for investors."

Report’s analytical group thinks that the silver price will gradually go up to $16.5 an ounce on average in 2019. The maximum level of price is possible to be $18. According to the observations, silver price is ‘waving’ more than gold price and this may lead to a sharp rise and then decline in its price.

Moreover, silver exporting countries are satisfied with the price of at least $15 an ounce and in order to achieve it, they may reduce output and create artificial shortage in the market. If the price exceeds $15, the next ‘station’ may be $16-17.