Natixis expects slightly weaker gold and silver prices
By Tom Stundza -- Purchasing, 5/14/2008 9:49:00 AM
In a precious metals market report, Natixis Commodity Markets in London expects prices for gold to average $875 /troy ounce in 2008 and silver to average $16.50/oz, which implies slightly weaker prices as the year progresses. Gold has averaged $9.16 so far this year after averaging $6.95 in 2007. Silver has averaged $17.49 through this week after averaging $13.38 last year. Natixis analysts suggest that the precious metals market may have already seen a peak for the year in gold back in March when prices briefly exceeded $1,000 per ounce. “Going forward, we believe that the investment case for gold will remain strong throughout the rest of this year and, potentially, into 2009,” says the Natixis consultancy. “However, this may not lead to new highs in the gold market.”
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