• Gold: 1,471.78 7.27
  • Silver: 17.04 0.09
  • Euro: 1.103 0.002
  • USDX: 98.142 -0.175
  • Oil: 56.84 -0.51

Silver gains favor as an investment asset

Friday, December 7th

Silver’s more popular and volatile than ever, ready to finish the year with gains more than double those of gold, as the industrial staple wins more favor as an investment asset.

“The evidence is clear that investment, not industrial demand, is what is driving silver prices higher,” said Mark Thomas, chief investment strategist and author of SilverPriceAdvisor.com.

Last month, Thomson Reuters GFMS said investment demand will likely be the prime driver of the silver price this year.

The precious-metals consultancy forecast that implied net investment would jump 82 million ounces to 234 million in 2012 from 2011, even as demand for silver in industrial applications is expected to fall nearly 28 million ounces. Read more on the Thomson Reuters GFMS report.

Investment interest also shows in holdings of silver global exchange-traded products, which — at around 600 million ounces as of Nov. 23 — were close to an all-time high, according to ETF Securities.

Your rating: None Average: 3.8 (8 votes)

Article Comments

Sponsored Links

Live SilverSeek Map