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Silver investment demand nearly triples during year of pandemic

Added 10-22-20 05:37:02am EST - “Silver investment demand nearly triples during year of pandemic” - Rt.com

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Posted By TheNewsCommenter: From Rt.com: “Silver investment demand nearly triples during year of pandemic”. Below is an excerpt from the article.

“Overall, this reflects both silver’s role as a safe haven asset and as a leveraged play on gold, as some investors expect silver to outperform the yellow metal,”said the Silver Institute.

According to the organization, silver bullion coin demand was up 65 percent over the first three quarters. German and US markets led the way with both seeing double-digit gains over the nine-month period.

Silver bar demand also rose sharply, led by Germany and the States. The growth in these markets was partly offset by weaker demand in India, particularly in recent months when price-led liquidations have emerged, said the institute.

Industrial silver demand has shown some signs of recovery in the wake of global coronavirus shutdowns. However, even with the upturn continuing into the fourth quarter, industrial appetite is expected to soften by about ten percent year-on-year, “entirely as a result of the Covid-19 pandemic.”

The Silver Institute projected that “the macroeconomic backdrop should continue to underpin silver investment demand for the rest of 2020.”

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