Silver usually moves in gold's direction, but with a magnitude of between 1.2 to 4 times gold's price change. At least, that is what history shows.
This is mainly because silver is much cheaper than gold, around 45 times currently and its supply is limited. In addition, silver has a much broader industrial usage in cars' catalytic systems, solar panels, etc., which makes silver more volatile than gold.
And silver miners' stocks prices are more volatile than even silver. Pan American Silver is a leading US silver miner with high amount of silver deposits in the ground.
If gold's price explodes, silver will most probably measure up with double the gold's price surge and Pan American Silver's market capitlalization could triple in such an event.
Solar panels are springing up everywhere around us and silver is one of the main metals used in solar panels' production, which bodes very well for the price and demand of silver.
In addition, geopolitical tumult increases the demand for both gold and silver as an investment safe haven asset.
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