Silver prices may be taking their lead from sister metal
gold, but giving underlying support to the market is growing industrial demand
from the solar energy sector. "Solar energy continues to expand and is an
important component of industrial demand for silver," says HSBC analyst James
Steel, adding recent consumption from this sector has been "robust." Citing a
report from GTM Research and the Solar Energy Industries Association, he says
the number of solar panels installed in the U.S. last year doubled
year-on-year, and is expected to be strong again this year. Spot silver up 35.3
cents at $32.418/oz.
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