| Gold ETFs have corrected hard in 2013 after hitting multi-year highs. Nevertheless, gold has not had it as bad as silver and related exchange traded funds. The iShares Silver Trust has dropped 29.0% year-to-date, whereas the SPDR Gold Shares has declined 17.7%.
“This is largely because silver, unlike gold, swings between dual roles as a useful industrial metal and safe-haven asset,” according to Morningstar analyst Alex Bryan. “Most of the time, industrial demand drives silver prices. However, during times of market dislocation, high inflation expectations, or economic uncertainty, investment demand for silver becomes the main price driver.”..............................................Full Article: Source
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