Silver Is Back: Prices May See Bullish Trend Soon
(Kitco News) - Silver has been attractively priced relative to gold, and investors are finally starting to take note of that, said Peter Hug, global trading director of Kitco Metals.
“I think people are starting to catch on to the fact that this market is overall in a bullish trend, which I do believe it is, that silver is extremely undervalued compared to gold, and that now we’re starting to see some retail demand coming into the silver market,” Hug told Kitco News.
At the time of this interview, gold prices fell $10 while silver rose by around 35 cents.
Hug noted that silver’s moves have historically moved more than gold when prices rally, and the same can be said in a bear market.
“Silver always tends to, on a percentage basis, outperform gold whether it’s moving higher or lower depending on the market trend,” he said.