by Cecilia Jamasmie
Mining.com
2016 has been a good year for precious metals, particularly silver and gold, but when comparing the two of them the grey metal has clearly outperformed bullion — it is up 40% to date, while its sister metal has only gained about 28%.
For some such as Michael Steinmann, chief executive officer of Pan American Silver (TSX:PAA) (NASDAQ:PAAS) — the world’s second largest producer of the metal —, silver will continue to crush gold into 2017, partly thanks to its use in solar panels and electronics.
Speaking to CNBC’s Squawk Box Wednesday, Steinmann acknowledged that while the US Federal Reserve’s potential move to hike interest rates by December will have an immediate effect on the metal, its long-term fundamentals remain strong.