RS: Silver Seen Targeting Nearly 30% Price Gain for 2013
Today’s AM fix was USD 1,667.00, EUR 1,259.25 and GBP 1,024.96 per ounce. Yesterday’s AM fix was USD 1,674.50, EUR 1,261.49 and GBP 1,027.87 per ounce.
Precious metals remained under pressure yesterday and closed with losses for both gold and silver. Gold closed down 0.2% or $3.50 to $1669.30/oz. Silver closed with a loss of 1.7% - down 54 cents to $31.10/oz.
Prices again crept gradually higher in Asian trading prior to some retrenchment in early European trading but dollar weakness was supporting gold and silver.
Further weakness could be seen and it is worth noting that gold and silver saw considerable weakness last December (see chart above) and both bottomed near year end on December 29th prior to strong gains in January 2012.
