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Metals Focus: PV, Auto Demand For Silver Rising

Electrical and electronics demand for silver is growing in the photovoltaic and auto sectors, says Metals Focus. The consultancy estimates that that silver PV demand for solar power could reach 90 million ounces this year. “This trend has offset a concerted effort to thrift the amount of silver used in silver pastes, a trend which accelerated after silver prices rocketed in 2011,” Metals Focus says. Meanwhile, the most important trend for silver in auto demand has been more usage per vehicle, as certain features once limited to luxury models are now increasingly found in the mass market, Metals Focus says. In addition, there are more electrical and electronic devices in cars. In fact, auto demand for silver is growing faster than vehicle production, Metals Focus says. Uses include heated seats, dashboard lighting, actuators, defogging lines and numerous sensors, such as collision avoidance and active warning systems. While difficult to measure, Metals Focus estimates that around one ounce of silver is consumed per vehicle. “This implies that automotive silver fabrication could rival that consumed in the PV sector,” Metals Focus said.

By Allen Sykora of Kitco News; asykora@kitco.com

 

FXTM: Gold May Draw Interest As Safe Haven

Wednesday November 15, 2017 09:53

Lukman Otunuga, research analyst at FXTM, sees potential for gold to draw a safe-haven bid. The metal was boosted Tuesday by a softer U.S. dollar and stocks, the analyst says. “With caution in the air as uncertainty lingers over the outlook for U.S tax reforms, investors may turn to safe-haven assets, which in turn should offer some support to gold,” he says. “From a technical standpoint, prices have broken above the $1,280 resistance level. If bulls can maintain control above this level, then the next levels of interest will be at $1,289 and $1,300. Alternatively, a failure for bulls to secure control above $1,280 may trigger a decline back towards $1,267.” As of 9:51 a.m. EST, spot gold was up $3.70 to $1,283.90 an ounce.

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