Saturday, January 17, 2009 1:21:15 PM
Buying of silver bullion by ETFs has formed a major tranche of demand in recent years, helping to offset falling consumption in industry and from the photographic sector.
Investors have taken a greater interest in physical precious metals in recent months as volatility in other assets has led to increased risk aversion.
"We see this as driven by the safe haven story," said Standard Chartered analyst Daniel Smith. "We remain quite bullish on gold, and that is helping lift interest in silver. If you look at the gold-silver ratio, silver looks quite cheap."
Silver's appeal as a currency hedge and an alternative to gold is outweighing falling demand in other areas, he said.
"From an industrial perspective, demand is quite weak but I don't think people are focusing on that as much as where the dollar is likely to go, and where gold is likely to go," he said.
Spot silver was quoted at $10.75/10.83 an ounce at 1045 GMT. Standard Chartered sees silver prices averaging $12 an ounce in the fourth quarter.
(Reporting by Jan Harvey; Editing by Peter Blackburn) Keywords: SILVER ISHARES/RECORD
Recent CDE News
- US Index Futures Rise Amid Earnings Season Optimism, Oil Prices Rebound • IH Market News • 08/07/2024 09:49:12 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/11/2024 12:01:59 PM
- Expanded Rochester Mine Achieves Mid-Year Target Run Rates • Business Wire • 07/11/2024 11:00:00 AM
- Coeur Announces Second Quarter 2024 Earnings Call • Business Wire • 07/09/2024 08:30:00 PM
- Coeur Reports Continued Positive Results From Kensington’s Multi-Year Exploration Program • Business Wire • 06/27/2024 11:00:00 AM
- Coeur to Participate in Upcoming RBC Capital Markets Global Mining and Materials Conference • Business Wire • 06/06/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/17/2024 08:38:32 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/16/2024 12:14:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/08/2024 09:06:06 PM
- Coeur to Participate in Upcoming Canaccord Global Metals & Mining Conference • Business Wire • 05/07/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/06/2024 08:35:46 PM
- Coeur Reports First Quarter 2024 Results • Business Wire • 05/01/2024 08:30:00 PM
- Coeur Publishes 2023 ESG Report • Business Wire • 04/23/2024 08:30:00 PM
- Coeur Announces First Quarter 2024 Earnings Call • Business Wire • 04/09/2024 08:30:00 PM
- Expanded Rochester Mine Achieves Commercial Production; Ramp-Up on Schedule • Business Wire • 04/08/2024 08:30:00 PM
- Coeur to Present at Gold Forum Europe • Business Wire • 04/04/2024 08:30:00 PM
- Form D - Notice of Exempt Offering of Securities • Edgar (US Regulatory) • 03/11/2024 08:11:59 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:55:31 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:55:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:54:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:54:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:54:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:53:39 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/28/2024 10:53:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 10:21:21 PM
North Bay Resources Announces Mt. Vernon Gold Mine Startup, Sierra County, California • NBRI • Aug 5, 2024 9:00 AM
Fifty 1 Labs, Inc. and All-In-Extracts Announce Joint Venture to Develop and Release New Testosterone Boosting Supplement • BLEG • Aug 5, 2024 8:30 AM
Kona Gold Beverages, Inc. Announces Strategic Initiatives and Corporate Direction Changes • KGKG • Aug 2, 2024 2:00 PM
POET and Luxshare Tech Expand Product Offerings for Artificial Intelligence Networks • POET • Aug 1, 2024 9:28 AM
Management Discusses Financial Filings of Global Arena Holding Inc., for 10-K 2023 and 10-Q, 1st Quarter 2024 • GAHC • Aug 1, 2024 9:14 AM
VAYK Announces LOI to Acquire $1 Million Home Service Company to Support Airbnb Business • VAYK • Aug 1, 2024 9:00 AM