fbpx
Edit Content

Price Of Silver Makes Bull Run, Outshines Gold, As It Hits An All-Time High In Seven Years

40D7180F-8896-4F4A-A7D6-49AD233C039A

The price of Silver is currently on a bull’s run, reaching its highest level in seven years this week. This is against the backdrop of a falling US dollar, with a record low-interest rates, as investors look for alternative instruments to hedge funds. 

Meanwhile, the precious metal has rallied more than 18% this week, reaching a high of $23.24 an ounce. It’s up 28% this year. This bullish run has gone past and outpaced the gains in gold, which has shot past $1,800 per ounce and is now approaching an all-time high of $1,920 per ounce reached in 2011. It was last trading at $1,882.34, a 24% rise year-to-date.

A lot of investors are looking for alternatives investment and trying to diversify their investment portfolio, due to the fears about the global coronavirus recession. Hence, the current surge in the precious metal assets is predicated by the search for reliable stores of value. These investors are diversifying their portfolio massively, especially to instruments that are recession proof and have the ability to bounce back if push comes to shove.

Start Your Business in 30 Days Even If You Don't Have An Idea
Start Your Business in 30 Days Even If You Don’t Have An Idea

The bearish run of Greenback is giving foreign investors quick access to buy the precious metals – gold and silver.

What Is The Reason Behind The Price Increase

The increased demand for renewable energy and electric automobiles is indeed a significant catalyst to the demand for the precious metal. This is because silver is a key component in the value chain which is also a factor in its recent rise in price. Industrial buyers account for at least half of the demand of the precious metal – silver.

Mining stocks that give exposure to silver, such as London-listed Fresnillo, have given investors bumper returns so far this year. Shares in the Mexican company have risen over 90% to trade at £12.32 ($15.67) a share. New York-listed Endeavor Silver, Great Panther, and Fortuna Silver Mines have also seen big gains this year.

“Picking [market] tops though in this environment, is a hazardous occupation, and only for the brave, very deep-pocketed, or foolhardy,” said Jeffrey Halley, a senior market analyst at Oanda. 

Silver is always referred to as the precious metal of the poor. However, it seems the goose in the market is laying a silver egg, giving the precious metal a lightbulb moment. Analysts have it that the price is expected to rise even more, but then, investors are implored to trade with caution.

Let’s create visibility for your brand today and put your business on the world map. Contact us today to make your brand the preferred choice among our audience of entrepreneurs and business leaders.

Share:

Facebook
Twitter
LinkedIn

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Business Registration

Most Popular

Join Entrepreneurs Family

No spam, only business insights and tips. 

Entrepreneurs Sign Up

Related Posts

Why Entrepreneurs Embrace Business Education

Why African Entrepreneurs Embrace Business Education

Why do African entrepreneurs embrace business education? Entrepreneurs are the lifeblood of economic progress, with small and medium-sized enterprises (SMEs) making up 90% of all businesses. These SMEs are more than just companies; they are the engines of job creation, contributing “up to 40% of national income (GDP) in emerging

Incorporating Mindfulness into Your Business Routine

Disclaimer- Presented by BetterHelp. Incorporating mindfulness into your business routine has many benefits. In the often chaotic world of business ownership, finding moments of calm and focus can be incredibly difficult. However, integrating mindfulness practices into your daily routine can offer numerous benefits, both for your personal well-being and your

How to Manage Anxiety in High-Stakes Business

Disclaimer- Presented by BetterHelp. How do you manage anxiety in high-stakes business? From client presentations to high-dollar sales calls, there’s no shortage of anxiety-inducing situations in high-stakes businesses. However, when your business’s success relies on your self-confidence and ability to perform, there’s no room for anxiety. So, what can you

How to Combat Isolation in Entrepreneurship

Disclaimer- Presented by BetterHelp. How do you combat isolation in entrepreneurship? Despite what you might see on social media, being an entrepreneur can be an incredibly challenging and lonely journey, especially for new entrepreneurs and small business owners. While many entrepreneurs are surrounded by employees, clients, and colleagues throughout the

Scroll to Top

Join Entrepreneurs Family!

Get access to FREE business insights and funding opportunities daily.

Entrepreneurs Sign Up