Australia
Silvers use as both precious and industrial metal could help it outshine gold
Silver is technically a precious metal, but it is also used as an industrial metal, contributing to its price gains as investors bet on a global economic recovery in the second half of the year.
The metals price has increased by 51% in 2020 to US$27.12 per ounce from US$17.91 per ounce at the start of the year.
Silver is used in an increasing number of medical applications, as well as in electronic components for 5G telecommunications networks, which indicates the potential for silver to outperform gold.
Is there room for further price increases?[hhmc]
As technical indicators go, the ratio of gold price to silver prices, commonly referred to as the gold-silver ratio, is considered by precious metal traders to be one of the most reliable indicators for forward price movements in silver.
The gold-silver ratio indicates how many ounces of silver are required to buy one ounce of gold. In times where the ratio is relatively high, it acts as a leading indicator for a rise in silvers valu..
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