Silver Will Become Hot Commodity Amid Market Uncertainty

As gold hit a two-year high on the back of the Brexit outcome, there is huge potential for silver as well.

PureFunds ETFs co-founder and CEO Andrew Chanin told CNBC that silver may be the better metal play as uncertainty to drive silver demand.

Chanin said two-thirds of silver produced are coming from industrial demand and noted that silver price is two-thirds off all-time highs.

Related Link: Scotiabank Raises Target On Fortuna Silver, But Cuts Estimates For Acquisition Accretion

Precious metals as a whole look cheaper in this scenario, Chanin told CNBC, even as investors look for gold and silver as safe plays in post-Brexit uncertainty.

Silver futures for July delivery gained 0.15 percent to $17.77.

A Few Names

• Pan American Silver Corp. (USA) PAAS
• Silver Wheaton Corp. (USA) SLW
Hecla Mining Company HL
• Silvercorp Metals Inc SVMLF
• Endeavour Silver Corp EXK
• Silver Standard Resources Inc. (USA) SSRI
• iShares Silver Trust (ETF) SLV
• ProShares Ultra Silver (ETF) AGQ
• Silver Trust SIVR
Global X Silver Miners ETF SIL