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.
Related: Silver Miners ETFs Can Keep Soaring
Silver enjoys heavy industrial demand – about 56% of total demand for silver comes out of industrial fabrication, followed by jewelry 20%, coins & bars 18% and silverware 6%. Nevertheless, silver remains correlated to gold’s fortunes.
“Bullish positions on silver and gold have pulled back in recent weeks, but remain near record highs, according to data from the Commodity Futures Trading Commission,” reports the Journal.
For more information on the silver market, visit our silver category.
ETFS Physical Silver Shares
