Silver could explode by 38% in 2013, predicts GFMS ... - Gold

"We will definitely see $40 to $45 prices," Philip Klapwijk says

Silver prices may rise as much as 38 percent in 2013 from current levels, as a weak global economy spurs safe-haven demand for the precious metal, the global head of metals analytics at GFMS, a Thomson Reuters unit, said Wednesday.

Spot silver has gained more than 17 percent so far this year, outstripping a rise of 10 percent in gold, and setting course for its third yearly rise in four. Silver was trading at around $32.50 per ounce by 1020 GMT.

"Strong investment demand, higher gold prices on the back of monetary easing, rising inflation expectations and the persistence of ultra-low interest rates" are among the factors that will lure buyers to the safety of silver, Philip Klapwijk, said on the sidelines of a conference in Hong Kong.

"We are thinking prices will trend higher next year. I'm not convinced that we are going to $50. I think we will definitely see $40 to $45 prices."

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Source: http://www.blanchardonline.com/investing-news-blog/econ.php?article=5182

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