Related: Attractive Fundamentals Could Further Support Precious Metals ETFs
“Gold bought as few as 64.2 ounces of silver on Monday, the least since August 2014, after purchasing as much as 83.8 ounces in February, the most since the global financial crisis in 2008. Silver has jumped 47 percent this year, outpacing gold’s 27 percent advance. Funds have boosted their bullish positions in the two metals to the highest since the data began in 2006,” according to Bloomberg.
Looking ahead, the ongoing negative interest rate environment, with European and Japanese central banks cutting benchmark rates deeper into the red to promote growth, could push investors toward precious metals as a more stable store of wealth.
Moreover, unlike gold, palladium, platinum and silver see much higher industrial demand. The precious metal enjoys heavy industrial demand that benefits from an expanding global economy.
For more information on the silver market, visit our silver category.
