Silver worth more than gold?
‘The white metal is also 40 times cheaper than gold. It doubles as both a precious and industrial metal and most of the silver used in industrial applications is consumed rather than recycled’.
Year to date, silver prices have increased roughly 26%. Gold’s 12% rise pales in comparison.
Silver is known as a “poor man’s gold,” so as gold prices rise and begin to price out many investors, “silver becomes a good and cheaper alternative,” said Mark Leibovit, chief market strategist at VRTrader.com
“The rising Chinese demand of gold and silver is one of the reasons why we continue investing in these metals, even at today’s prices, coupled with the fact that underground reserves that can be mined at reasonable costs have become fewer and harder to find,” said Martin Hennecke, associate director at Tyche Group in Hong Kong.
