Gold and Silver Prices per Ounce
Gold and silver prices per ounce have moved positively thanks to a stronger euro against the USD. These precious metals have been on an upwards journey from the beginning of 2012. While gold has gained about 4 per cent so far in month of January, silver has risen even higher gaining about 7 per cent from the beginning of January.
Currently there is bullish outlook on gold and silver prices per gram as the physical demand for gold remains robust, from emerging market economies such as China and India. The demand is especially high from China, with the Chinese New Year round the corner and the Indian wedding season in progress.
The latest gold and silver prices per ounce
The latest gold price per ounce is hovering around at $1620 while the price of silver per ounce is around $ 30. Gold and silver prices per oz have been trading higher as the Euro has been steadily climbing against the dollar. Although there have been good gains in both gold and silver in the New Year, bullion analysts are somewhat sceptical about the optimism in gold and silver prices per ounce just as yet. This is because they feel that the beginning of the year rally is usually not a very convincing one as it is based on momentum rather than fundamentals.
However the future outlook for gold and silver prices per ounce does remain optimistic. Most bullion analysts and economists from reputed firms such as Goldman Sachs, Deutsche Bank and Morgan Stanley are bullish on gold for the year 2012. Their 12 month view on gold is around $ 1925- $1940 per ounce. This is largely because of the depressed real interest rates. Also the prospect of continued easing in the monetary policy by the apex banking bodies around the world will keep the sentiment bullish in precious metals.
Being bullish on silver
In the case of silver as well, the sentiment is rather bullish as of now. Silver witnessed major volatility last year. In April, the white metal soared to 48.58 per ounce, before registering a huge fall. Eventually it ended the year with a drop in overall returns by 8.5 per cent. The low cost of mining silver, coupled with an increase in silver production, has been fuelling the demand for the white metal. There has also been an increase in the speculative activity in silver as investors are on the lookout for a cheaper alternative to gold. Though oversupply in silver may not augur well for silver in the short term, over the long term the outlook on silver is positive.