Silver gets its shine back – by Amanda Stutt ( – September 7, 2020)

Gold has been the precious metal getting all the attention as investors piled into the safe haven asset on the economic fallout of the pandemic. Gold price broke all-time records in August, reaching $2,050/oz.

But silver has also had an outstanding year, with its gain almost double gold’s, Bloomberg reported. The rise has come off the back of a weakening US dollar, plunging real rates and geopolitical tensions — all of which give investors motivation to seek haven in precious metals.

Colin Plume, founder and CEO of Los Angeles-based precious metals broker Noble Gold, said prior to the pandemic, he saw investors buying gold and silver at a 60/40 ratio, but now the buying is nearly 50/50.

“We’ve seen a pretty dramatic uptick in our business since the shutdown, well over a 30% increase since March,” Plume told MINING.COM. Silver was down 0.4% Monday at $26.87 an ounce after hitting a high of $29.13 on August 10th.

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