PRESS ROOM
Dark clouds loom over the silver lining
Friday 08th July '22
Silver has endured larger losses this year on account of its industrial properties. Even though silver typically demonstrates a high correlation with gold historically, its use as an industrial metal can dictate prices especially when gold is unable to lift it meaningfully. Last two months have precisely been such an environment. Industrial metals have retreated from their highs in March as Chinese manufacturing activity has slowed down. Sentiment has suffered further with growing fears of recession. This industrial effect on precious metals becomes even clearer when we observe the price behaviour of platinum and palladium, both of which are the most industrial in nature within the group.