Silver demand 10% up in 1H
Investors flocked to silver-backed exchange Traded products and silver bullion coins! Silver’s role as a valued investment was broadly on display during the first half of 2020, as investors’ actively accumulated silver in the first six months of the year, leading to a 10 percent gain in investment demand. Paving the way was remarkably strong growth in silver-backed exchange-traded products (ETPs), which have posted successive all-time highs this year, together with solid silver coin and bar investment. The silver price averaged US$16.65 through to the end of June. Having fallen sharply in mid-March, the silver price has since recovered strongly, rising by 56 percent to reach US$17.84 at end-June; it has since broken through the US$18 barrier. The gold: silver ratio the quantity of silver ounces needed to buy an ounce of gold fell since its multi-decade high of 127 in March, and at end-June stood at 97.8, which is still very high by historical standards, and may signal th