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Will Silver Prices Drop Further?
The price of Silver has fluctuated over the past year. The good news, for artist working in silver, is that the industry expects silver prices to fall again in 2015.
Lower silver prices give us an opportunity to work with quality metal and create one of a kind pieces. In the past Silver was simply too expensive to experiment with. These lower prices afford us the chance to expand our horizons, working with Silver, Argentium Silver, and Fine Silver.
Read my article on "Identifying Silver" to understand the different types of Silver you can choose from. One of my favorites is Fine Silver. It is nice to work with because it does not tarnish quickly. However, you have to be careful, it is self fusing and easy to make a mistake with too much heat.
Nationaljeweler.com, the industry’s only news analysis publication, published an article on the price of silver for the upcoming year. You can find the link at the bottom of this article.
The per-ounce price of silver is expected to decrease this year as the dollar continues to strengthen and investments move out of the commodities sector.
However, the metal could end the year on a strong note poised for growth in 2016.
Predications are for the average silver price to decrease to $16.50 per ounce in 2015, down from just above $19 last year. In the first three months of 2015 the average price was $16.70 per ounce for the period of January to March. It is said that the lowest prices of the year should happen just before the Federal Reserve raises interest rates.
The London Bullion Market Association predicts an average price of $16.76 per ounce for silver--slightly higher than the Thomson Reuters GFMS forecast--with prices ranging throughout the year from $13.91 to $19.36.
Last year the average price was $19.08, reaching its high in February at $22.05. The prices declined throughout the year, reaching a low of $15.28 in November 2014.
With the cost of material less, that translates into savings for your customer. Because of these lower prices customers are expected to spend more on Silver Jewelry. So take advantage, stock up and start making some great pieces!
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