Higher Silver Prices Expected In Next 30 Days
Silver Price Close Today : $13.607
Change: 18 cents or 1.4%
The price of silver climbed today 18.3 cents to $13.607 cents. Some experts believe that prices of the precious metal will continue to rise above it's current levels, but are likely to remain shy of the record levels touched in March 2008, said Chief Executive Officer Dennis Wheeler on Tuesday.
"I wouldn't sit here and forecast new highs for you. But I certainly feel quite comfortable talking about silver in a $16 to $18 range," Wheeler told the Global Mining and Steel Summit in New York.
"There are not very many silver mines coming into production. In fact, we have brought the two largest new silver mines into production over the last nine months -- San Bartolome in Bolivia and near the end of this month Palmarejo in Mexico." said Wheeler.
Those projects are expected to contribute about 19 million ounces of new silver supply each year. Silver is used in many jewelry, electronics, and medical and industrial applications.
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