In the last couple of weeks, the silver price has been on the rise. Investors have been turning to silver in greater numbers than before. What has been driving the price of silver?
While a lot of people have had their eye on gold which has had a magnificent run, people are beginning to notice that the same factors that are driving the rally of the gold price are also driving silver.
Silver and gold have been seen as safe-haven investments. The price of gold and silver to some degree turn when bonds offer negative returns as they have been doing recently.
Silver has made impressive gains in the last weeks promoting silver buyers to unload the silver investments they have made over the years. Precious metal dealers are beginning to show an increasing interest in buying silver products.
In August, the spot price of silver reached $30 an ounce. Even when it pulled back slightly to $27 an ounce, it was still the highest it has been in seven years. Between mid-July and the end of August, silver gained almost 39%.
Gold, silver, and other precious metals have been lifted by a number of drivers.
The first one is … Read the rest