Ag seen averaging $16/oz in Q4, $17.30 for 2010

摘要

Given its negative outlook for gold prices,nNatixis anticipates silver prices following inntandem, with the third quarter generating annaverage of around $17.75/oz, after whichnlosses could accelerate to give a Q4 aver-nage price of around $16 and an annualnaverage price of $17.30. “A more bullishnbase metals market in 2011 is expected tongive some support to industrial silverndemand, justifying an average price only anlittle lower at $15.50/oz, avoiding the morenovert weakness likely in gold prices,” Natixisnadded. “As a result, the gold:silver rationshould narrow considerably to an annualnaverage just over 61, taking it closer to itsnlonger term average in the high 50s.”