Silver shed 27% percent of its Q3 gains!
Silver momentum remained upward What happened in the silver market in Q3? Silver price update is here & that covers supply, demand and other key factors impacting the metal. Silver put in its best performance of 2020 in Q3, adding more than 60 percent to its value by mid-August. Surging to a seven year high, the metal neared US$30 per ounce. The price move created a value opportunity for investors. Pushed higher by precious metals demand, industrial declines had less of an impact on silver’s ascent than initially expected, meanwhile, heightened exchange-traded fund buying also factored into the metal’s push to US$29. However, silver’s strong momentum didn’t last by the end of September; the white metal had shed 27 percent of its Q3 gains to hold in the US$24 range. Silver’s upward momentum in Q3 came after a slow start to the year. The white metal began 2020 at US$18.02 and faced incredible headwinds late in Q1 as the markets fell sharply in response to d...