Market Overview

Silver Will Become Hot Commodity Amid Market Uncertainty

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

Posted-In: Andrew Chanin CNBC SilverCommodities Markets Media Trading Ideas Best of Benzinga

 

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