HSBC boosted their 2013 silver target to $33. from $32 by analyst James Steel,well I guess if you just bought 25Moz of silver and are geetting ready to cover your shorts it is easy to be right, talk about a sure thing.
What these analyst do not talk about is the rising cost of energy it takes to get one ounce of silver out of the ground , in North America the smaller mines break even cost is around $30. so this fact alone will limit the amount of new projects coming online. as oil increases so does these mines EROI . this is just one more reason why silver's price needs to to much higher $41 and up would be nice.