The Phaserl


How Silver is Making a Slow Recovery in 2014

from Gold Silver Worlds:

After 2013’s volatile year for silver and gold prices, investors are watching the price per ounce of the two metals carefully. Much has been made of gold’s crashing prices, but silver also dropped more than a third (36%) in 2013 from $30 per ounce to less than $20. At the start of this year, analysts were divided over silver’s prospects for 2014. A quarter of the year in and silver has yet to really pick up, still hovering around the $20 mark, while gold has recovered from the end of 2013 and is up nearly 17%. So why is silver lagging behind, and can it make a full recovery this year?

US inflation rocks the boat

Inflation in the US has boosted the price of gold in an upwards trend that is likely to continue for the rest of the year. However, uncertainty in the US economy as a whole is having a positive impact on the price of both gold and silver. This nervousness has been sparked by a number of factors influenced by the US government. Firstly the US Federal Reserve has announced that it will reduce its quantitative easing program; although this is a response to the growing economy this action is likely to have a negative impact in the short term on the stock market as uncertainty increases. It is likely that investors will ward off this uncertainty by buying gold and silver, pushing the price of these investments up this year. Secondly, the US Labor Department has announced that jobless claims have dropped to their lowest point in seven years, pointing to increased recovery in the US employment market and the economy. Again this led to stock markets tumbling on April 10, and in response silver prices rose 2% before closing at $20.14 an ounce. In addition to these factors, as the US economy grows, industrial demand for silver could also pick up meaning more investors will turn to the metal as a safe place for their money.

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