Investors vote for silver as the best asset for 2021
Silver will be the best asset to invest this year, while gold will rank third among investors’ preferences. Their desire to hedge against inflation will be the determining factor in keeping precious metals the preferred investment asset.
According to an investor survey conducted by Kitco News, the silver market will continue to arouse investor interest and be the leading metal in the investment world during 2021.
The trajectory of this metal during 2020 supports the reputation of silver as an asset of choice for investors for 2021. This is the fifth consecutive year in which silver has reached this privileged position among the investor preferences.
The Kitco News survey, Outlook 2021, has collected the opinions of 1,015 investors. 56% of them (568) have registered that silver will achieve a greater revaluation than the rest of metals in 2021.
During 2020, the metal has experienced a historic rise, after plummeting last March, amid the financial crisis caused by the Covid-19 pandemic, to a minimum price of $12 an ounce.
However, as the year progressed, the metal rallied up 115% from its March lows.
Silver could rise to $50 an ounce again
In comparison, the price of gold rose by 25% compared to the minimum price it registered in March, which was around 1,500 dollars an ounce.
It is not only investors who trust the evolution of silver in 2021. Analysts are also betting on this metal. Like gold, it will benefit from factors such as low-interest rates, the weakness of the US dollar and inflationary pressure. Besides, economic activity will be beneficial to the white metal. Silver has critical industrial applications, and in periods of economic growth, its demand increases. Some analysts believe that silver could approach its maximum historical levels once again. They believe the metal could rise to around 50 dollars an ounce.
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