Silver Prices Spike, Demand Rising
Brexit vote causes a price jump for precious metals
Precious metals are some of the save-havens that investors turn to in times of economic troubles, and the post-Brexit world that we’re living in is no exception.
When Britain voted to leave the EU on Thursday, the markets changed dramatically. The value of the pound dropped 11%, and was at the lowest it’s been in 30 years.
When traditional currency drops, people look to put their money in something more stable, causing precious metals demand and prices shoot up, and that’s exactly what happened starting Thursday night.
Once the results of the referendum showed that Britain had chosen to leave the EU, the price of precious metals jumped, and silver rose 3.5%, from $17.24/oz. to $17.84/oz. Silver is currently priced at $17.85/oz. and is only expected to keep rising.
Silver Outlook Bright
Once the panic over the referendum settles, so should the price of precious metals, but silver is still expected to have a great year. In the past five months the purchase of silver coins from the U.S. Mint has increased over 40% than at the same time last year, and the Mint is producing even more coins because of this.
The demand for nanosilver (tiny particles of silver), which is used in healthcare and technology is also expected to keep rising, with the research firm Transparency Market Research estimating huge growth in the next seven years, from $700 million to $2.4 billion.
Some analysts think we’re headed toward the next major bull run, where silver could double in value. That’s not something you want to miss out on.
While the average investor has a hard time investing in safe haven assets like gold because it's so expensive, silver is a much more reasonable investment, and once prices double, you’re going to be glad you’re safely invested in it.
Invest in silver now, before it’s too late.
To continue reading more about rising silver prices, click here.
Since 1995, Christian DeHaemer has specialized in frontier market opportunities. He has traveled extensively and invested in places as varied as Cuba, Mongolia, and Kenya. Chris believes the best way to make money is to get there first with the most. Christian is the founder of Bull and Bust Report and an editor at Energy and Capital. For more on Christian, see his editor's page.
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