Daily Outlook for Silver Prices

Quotes from Commerzbank Corporates & Markets:

-The silver price looks largely stable and is trading above the $20 per troy ounce mark. According to data from the customs authorities, China imported a good 214 tons of silver in December – the lowest figure for five months. In 2013 as a whole, imports totalled around 2,566 tons, which is 11% down on the previous year.

-Chinese silver imports thus fell for already the third year running. What is more, they have dropped by more than half from their record high in 2010. In China, gold is in much greater demand for jewellery purposes than silver.

-In addition, China has in recent months and years significantly stepped up its mining production of for example gold, copper and zinc, with the result that more silver is produced as a by-product. According to data from the Silver Institute, only 28% of total global silver mining supply in 2012 was actually produced at dedicated silver mines.The material has been provided by InstaForex Company – www.instaforex.com

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