Silver Slips on Demand Concerns
Silver continues to show sharp swings. The metal gained 4 percent last week, but has already given up about half of that amount on Monday. With the coronavirus raising fears about a global recession, silver has also taken it on the chin, as 60% of the demand for the metal is as an industrial component. As a precious metal, silver is also, to an extent, a safe haven, but gold is clearly the destination of choice for jittery investors. Gold prices remain around the lofty $1700 level, as it has reasserted its safe-haven status in times of crisis. Analysts have noted that the gold-to-silver ratio has hit an all-time record of 100:1 on Monday, as silver has joined the decline seen in stock markets, bond yields and other commodities.
