Why Some Analysts Believe Silver Will Outshine Gold In 2021
Financialnewsmedia.com News Commentary
PALM BEACH, Fla., May 25, 2021 /PRNewswire/ -- Many investors turn to gold during times of global crisis, and that is exactly what has happened this last year, during the pandemic. But experts say that smart investors should be looking at silver. A report
from the Silver Institute (in collaboration with industry insider Metals Focus) says that silver will outshine gold as demand hits 8-year high in 2021. An article in Reuters discussing the subject said that the global demand for silver will rise to 1.025 billion ounces in 2021, its highest in eight years, as investors and industry ramp up purchases, the Silver Institute said on Wednesday, predicting that prices would rise. The article reported that: "The coronavirus outbreak triggered a rush among investors to stockpile silver, which like gold is traditionally seen as a safe place to store money. That impetus will continue, the institute said, predicting purchases of bars and coins would rise to a six-year high of 257 million ounces in 2021." It did not give a forecast for exchange traded funds (ETFs) storing silver bars for larger investors, but these have grown strongly so far this year, helping push prices to an eight year high of $30.03 an ounce on Feb. 1. Active mining stocks mentioned in today's commentary include