Silver could get another boost if gold prices start rebounding in earnest. Indian demand is vital for gold because the country is the second-largest buyer of the yellow metal behind China. India, one of the world’s largest gold consumers, could be set to lower its import tax on bullion, which could be major catalyst for gold prices.
“Silver has two unique properties that, when comparing all other asset classes, are only seen in gold as well: Silver is money and silver is an industrial metal. If the copper price is turning up, as shown in the chart above, silver could start moving up in price as well, which it looks like it wants to do when compared with copper,” reports ETF Daily News.
Investors can tap silver equities with the Global X Silvers Miners ETF (NYSEArca: SIL) and related ETFs. SIL, the largest silver miner-related ETF, tries to mirror the Solactive Global Silver Miners Total Return Index, which is also comprised of global silver miners.
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