Silver had a terrible year in 2013. Silver price felt 36% in 2013. It started off with $30.11 and closed at $19.41.
PricewaterhouseCoopers (PwC) conducted a survey on investors’ expectation on silver price for next 12 months in 2014:
- 53% said they expect the price to increase
- 38% expect it will remain at current levels
- 9% predict a further decline in price.
Download the full report by PwC.
Silver is a multi-purpose metal. It acts as both a currency and an industry commodity for investors. Silver has a wide-range of applications such as jewelry and medical equipment. The price of silver dropped 36% in 2013. Starting the year around $30/oz and felt to $19/oz. Silver hit an inflation-adjusted record of just under $50 in April 2011. Oversupply of paper silver is partially to blame for the drop in silver price in 2013. Its correlation with gold as a store of value for some investors has contributed to its price depreciation in recent months.
Also, be sure to check out last week article: Top 3 Silver Investment Recap in 2013 >>> http://silverinmalaysia.com/top-3-recaps-silver-investment-2013/
In investment investors do not expect to make money right after putting in the capital. There will be up time and there will be down time. Apparently 2013 happens to be one of the bad year for silver.
If you have been holding on your purchase and wondering if this is the right time. Remember that you are getting a 36% discount compare to those who have invested 12 months ago.
In fact, if you use a longer time frame back to April 2011 when price was almost $50, you are now getting a 60% discount!
Is now a good time to invest? Will price drop further? Unfortunately I do not have the crystal ball and I could not predict the future. All I could do is show you the facts and you have to make the decision.
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