Many people around the world want to know the answer to the question, “Where is silver going?”
I invested several hours browsing the Internet searching for answers to save you time and money (because time is money, after all). Have another financial question? Drop me a line. Please don’t ask me where your lost kitten is or why she left you. Ask me about topics that can make you money, like silver!
Here are my findings on the latest silver price predictions for 2013, 2014 and beyond. The prices are sorted from low to high:
1) $26 Barclays according to CommodityOnline
Barclays believes strong production growth in mining will knock silver prices down and keep them low in 2013. “We expect it to grow to 25.2kt in 2013, with the slowdown in output from Australia and Europe being offset by strong growth across South America and Asia. We expect modest growth from the major producers, with Mexico retaining its pole position.”
2) $30-$32 Neil Meader (Head of Precious Metals Research and Forecast) according to Forbes
“For the moment, we would expect to see a continuation of the price volatility that we’ve seen of late.
“The unknown for the longer term is inflation.”
“It would be wrong to assume that a year-on-year price fall automatically presages an end to the multi-year rally; that occurred in 2009 and yet prices (based on the annual average) then more than doubled in just two years.”
3) $31 Deutsche Bank
The bank lowered its forecast last month 16.5% to $31 according to Fox because the demand for stocks over commodities is rising and the growth in the United States of America is improving. The 2014 forecast was also significantly reduced.
Excluding major banks currently in the red. Deutsche Bank is the fifth least profitable major bank in the world with barely $400 million in profits. It appears they are no longer qualified to give financial advice to anybody. Perhaps they should hire me. I can easily turn a profit of $40 million. I am just a regular guy. They have 100,000 employees.
4) $33 HSBC
The bank increased its target for silver from $32 based on four factors driving prices higher: industrial demand, investor appetite, strong coin and bar purchases and a bottoming out of jewelry demand according to the Wall Street Journal.
“Greater industrial silver consumption is one of the most compelling arguments in favor of higher prices.”
5) $34.10 BNP Paribas
The bank reduced its silver 2013 forecast a few months ago to $34.10 from $39.05 according to Reuters.
6) $35 Morgan Stanley
Morgan Stanley is very bullish on silver and selected the precious metal as one of the Top Picks for 2013 according to BusinessWeek.
“Gold, silver and corn will outperform other raw materials next year as a weaker dollar and rising investor demand bolster precious metals while supply curbs aid grains.”
7) $38 Commerzbank according to the Wall Street Journal
Silver is “establishing itself as a precious metal with an industrial character, setting itself significantly apart from gold.”
8) $40.25 Michel O’Brien
Silver To Gain 29% in 2013 – Analysts, Traders and Investors.
“The silver market remains a very small market and this continuing global investment and store of value demand should lead to silver reaching a real record high, inflation adjusted, of over $140/oz in the coming years.”
9) $50-$60 Ge Christenson according to SilverSeek
“This is not a prediction based on wishful thinking and hope, but a best estimate based on rational analysis of data stretching back to 1975.”
“Silver (and gold) will continue to rise, doubling every 3 – 4 years, until our government manages to tame the deficits, the borrowing, and the inevitable inflation.”
10) $91 Equity Management Academy
Silver Doctors started recently in 2011 and they are visited by over 750,000 each month. The video analysis by Steve Roy is only 9 minutes long.
This was the highest forecast I could find at the time of this writing – a time when, admittedly, silver prices are extremely low. It’ll be interesting to see which of the predictions above come the closest to the truth by the end of the year.
The debt crisis that’s plaguing the U.S., Europe, Japan and other countries will eventually lead to so much money-printing, though, that continuing to suppress the price of precious metals just won’t be possible. That’s when we’ll truly see a tremendous climb in prices.
When Federal Reserve Chairman Ben Bernanke said the Fed “will provide additional policy accommodation” to bolster the US economy on Friday, metals prices sprinted higher in an end-of-the-month surge. Silver rallied more than 4.5 percent to give it as a solid lead as the top-performing metal in August.
Early Friday, prices started climbing and they didn’t stop until the markets closed. By the end of the day, silver was up to $31.74 an ounce – a gain of 4.58% in a single day of trading. The actual quote that had traders salivating is (in typical Bernanke fashion) vague:
1) Follow the pros. One of my favorite tactics for identifying strong junior mining companies is by looking at the companies professionals are investing in. A great starting place is the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ). This ETF invests in a basket of junior gold mining stocks, and the fund regularly updates its holdings. As of right now, GDXJ holds shares in 82 companies (download the 
