London, September 6 (HNA) – We would be remiss if we didn’t include at least a short section on silver’s outstanding performance thus far this year, according to the latest Goldhub released by the World Gold Council.
“At publication time, gold is up 26.25 percent year to date while silver is up 47.66 percent. Over the past twelve months, it is up 37.25 percent to gold’s 24.75 percent” it said.
Deutsche Bank’s Henry Allen recently pointed out that silver was the best-performing asset across the boards thus far in 2020 outperforming even the highly-touted NASDAQ.
“The jump in [the silver] price in July reflected renewed interest by retail investors potentially priced out of gold” reports German-based refiner Heraeus in its latest precious metals forecast:
“July represented one of the best months on record for silver, recording its largest monthly price gain since 1979. Inflows to silver ETFs have been very strong, with global holdings reaching a record 1,036 moz in August.
“Silver has outperformed gold for many weeks now, which has seen the gold: silver ratio fall back to 71. Industrial demand is recovering but investor demand must be sustained for this outperformance to continue.
“With the economic outlook still uncertain, further stimulus measures by governments or central banks could keep investors interested in silver. The price is anticipated to trade within a range of $22.5/oz and $35/oz for the remainder of the year.”
