Silver Investment Demand Nearly Triples During Year of Pandemic

from Russia Today

Data by the Silver Institute shows that global silver-backed Exchange-Trade Products’ holdings rose by 297 million ounces through the first three quarters of 2020, nearly tripling the growth seen during the same period last year.

“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.

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