Why Silver Prices May Climb To Their Highest Yearly Average Since 2014

“The monetary value of silver underpins the vast majority of its price, and if the metal had only industrial demand working for it, the price would be under $5 an ounce,” says Gold Newsletter editor Brien Lundin. “Silver’s precious side means it will outperform industrial metals in the months ahead.”

China is the world’s second-largest consumer of silver after the U.S., and “the enhanced uncertainty in China surrounding the coronavirus fears is taking a toll on silver prices,” says Matthew Miller, an equity analyst at CFRA Research.

“While weaker industrial demand is likely to remain a headwind, CFRA predicts continued appreciation in safe havens in 2020, and we see a high probability that silver will outperform gold,” he adds.

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