Unless you’ve been living under a rock you’ve noticed gold’s run-up these past few weeks. The year started off with all kinds of speculation about how far gold would rise in 2019 – with a minority thinking it would drop. Well so far the majority is ruling, and gold has risen from 1278 to 1323 rather rapidly.
But what about silver? Silver is a peculiar two-sided thing, with both precious metal- and industrial use aspects. Those, combined with the fact that there’s more silver available to mine than gold, means silver run-ups depend on investor sentiment to drive them, as it’s relatively easy to mine more when the price gets high.
Silver has enjoyed a good run-up as well lately, and there are similar signs that run may be ending. Possibly because gold prices tend to drive silver prices when precious metals prices rise – silver is, after all, the poor man’s gold. For a good look at the factors behind this, we’ll point you at this article, then ask: What’s your opinion? Let us know in the Comments below.
The Gold Enthusiast
DISCLAIMER: The author holds no positions in any mentioned securities. He is long the gold mining sector with small, non-market-moving positions in NUGT, JNUG, and a few junior mining stocks, and may trade any of these in the next 48 hours.