Chinese demand for silver to rise in 2013

[pmbug]

... Research from Beijing Antaike notes that demand for silver is set to jump as much as 10% in 2013, with investors seeking to preserve their wealth.

Consumption may climb to 7,700 metric tonnes after gaining 6-8% in 2012, Shi Heqing, an analyst at Beijing Antaike, told Bloomberg recently. Even for China, this would be a record level. China is the world's second biggest user of the metal.

Silver soared 15% and holdings by exchange traded funds jumped 6.5% in 2012. The research firm said demand for silver is coming from jewellery and coins, which accounts for 33% of demand, and electrical appliances and solar panels.

A possible solar industry recovery is also expected to help the white metal's demand, with the government targeting 21 gigawatts of solar power installations by 2015. This compares to an installation of 2.6 gigawatts in 2011.
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http://www.mineweb.com/mineweb/view/mineweb/en/page32?oid=161036&sn=Detail

 

[swissaustrian]

Related article:
http://www.businessweek.com/news/20...and-to-advance-to-record-on-wealth-protection