MUMBAI: Will silver beat gold in the New Year? If the hints from commodity specialists are any indications, the silver is set to outshine gold this year with around 27 per cent increase while the yellow metal may witness a 17 per cent rise.
According to analysts, average gold price will be around $814 an ounce in 2008; while silver is more likely to average $17 an ounce.
Gold was up in Asian trade by $5 at $838.70 an ounce on Wednesday, while silver was up six cents at $14.85 an ounce.
According t experts, last year, gold averaged $695.39, while silver was at $13.38.
Another worry for those who invest in gold is the dollar fall against several currencies, including rupee.
According to analysts, this year investors should be cautious on the yellow metal. The market sentiment is truly mixed and 2008 would be a tug of war between gold bulls and bears.
New upsides in gold
The gold market has three stages spanning over 12 years, with price largely determined by currency devaluation in the first four years.
The next four years are dominated by global investment demand and the final stage is the speculative mania.
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