The strongest precious metal since the lows of 2008 has been silver, which has gained 249% since its low of $9.05 an ounce on Oct. 27, 2008, says Bob Tebbutt, vice president for risk management with Peregrine Financial Group Canada. Gold, meanwhile, he says, “has gained only (!) 137% and the gold/silver ratio has dropped from 77.1 ounces of silver to buy one ounce of gold to its present level of 51.93.” Silver has fared better due to its extra role as an industrial commodity as well as a precious metal, while gold mainly acts as a precious metal which anticipates and reflects inflation growth, Tebbutt says. “However, at the present time, both markets are stalling and concerned over Chinese economic growth and European debt problems,” he adds.
Tuesday, 17 April 2012
Peregrine Financial’s Tebbutt: Silver Top-Performing Precious Metal Since 2008
The strongest precious metal since the lows of 2008 has been silver, which has gained 249% since its low of $9.05 an ounce on Oct. 27, 2008, says Bob Tebbutt, vice president for risk management with Peregrine Financial Group Canada. Gold, meanwhile, he says, “has gained only (!) 137% and the gold/silver ratio has dropped from 77.1 ounces of silver to buy one ounce of gold to its present level of 51.93.” Silver has fared better due to its extra role as an industrial commodity as well as a precious metal, while gold mainly acts as a precious metal which anticipates and reflects inflation growth, Tebbutt says. “However, at the present time, both markets are stalling and concerned over Chinese economic growth and European debt problems,” he adds.
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