Surging Demand From Retail Investors Will Push Silver Higher

Bloomberg reported that a global surge in demand from retail investors for silver coins and bars has tripled sales since October, and now prices are set to rise further.

As quoted in the market report:

Global investment through silver-backed exchange-traded products reached a record 18,854 metric tons in November, or more than nine months of mine output, data compiled by Bloomberg show. Holdings are now valued at about $19.2 billion. Prices will rise as much as 29 percent to $40.25 an ounce next year, based on the median of 49 analyst, trader and investor estimates compiled by Bloomberg.

To view the whole Bloomberg report, click here.