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.
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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