truthingold.com / Dave in Denver / July 24, 2015 at 10:48
Silver is glittering brighter than gold for legions of Western investors who appreciate its uses in industry. But the white metal’s softer landing during this week’s rout in preecious metals has left some Asian customers concerned it hasn’t yet hit bottom.
The rare split in views about silver between Western and Asian buyers may weigh on any near-term price recovery. China and India rank among the top consumers of the metal.
The economic recovery in the U.S has raised expectations for higher interest rates, usually a negative factor for commodities, in turn helping trigger the slide in metals prices this week. But silver has proven more resilient than gold. It is down 0.9% over the past week, versus a 3.8% fall for its counterpart.
Silver is used in things like mobile phones and is also seeing emerging demand due to its use in solar panels, allowing it to benefit from a plethora of renewable-energy projects.
As a result, some investors see greater potential for silver than gold. That has translated into runaway sales this month of American Eagle silver coins from the U.S. Mint.
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