Silver gets a shine

After prices for silver fell in 2013, the global economic recovery will soon see silver prices rise.

When it comes to some precious metals, best to look past current prices to the silver lining. Yes, prices for silver fell 36% in 2013 but this precious metal is nevertheless set for a rebound, says Sprott Asset Management in its Markets at a Glance newsletter. For one thing, India has started buying up large quantities of the metal, with silver imports jumping 40% to 338 tonnes in October 2013 from 241 tonnes in September 2013.

“If you believe in a global economic recovery, buy silver,” recommends market strategist David Franklin. “If you believe there isn’t an economic recovery and we will continue on ‘central bank’ life support — buy silver. A major new buyer has entered the market, purchasing as much as 20% of the total world production [in 2013] for investment purposes — follow the money and add some silver.”

About the Author

Yan Barcelo

Yan Barcelo is a journalist in Montreal.

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