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| Above, a 1923 Peace silver dollar. Photo by Armand Vaquer. |
With silver surging on the spot market, I am glad that I bought a lot of it while the spot price was in the 20s. Right now, it is around $59/toz.
If one is wondering why silver has hit record highs lately, an article in Bloomberg can provide some insight.
They begin with:
Gold has staged a dramatic rally this year as the US Trump administration’s unorthodox economic policies sent investors and central banks reaching for safe-haven assets. Right now, however, it’s silver that’s stealing the spotlight.
A squeeze in supply of the precious metal had catapulted it to a 100% gain as of early December, while gold was up 60%. Both have been experiencing a surge in demand from investors seeking to hedge against political turbulence, inflation and currency weakness.
Unlike gold, silver isn’t just scarce and beautiful: It also has many useful real-world properties that make it a valuable component in a range of products. With inventories near their lowest on record and investors still scrambling for more, there’s a risk of supply shortages that could impact multiple industries.
To read more, go here.
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