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Silver Seen Lower by CPM as Short-Term Investors ‘Disillusioned’

Silver prices on average will decline for the third straight year as investors continue to move their money to equities and property, according to CPM Group.

The metal will average $20.37 an ounce this year, Jeffrey Christian, the managing director of New York-based CPM, said in an interview before the release today of the research company’s “Silver Yearbook 2014.” That’s down 14 percent from $23.778, the 2013 average of futures in New York.