Diane Alter of Money Morning reported that investors are now investing in silver at a higher rate than gold, noting that the iShares Silver Trust (ARCA:SLV), which is physically backed by silver, received $88.2 million in new money last month.
Alter believes that this positivity is likely to continue, meaning that now is a good time to be investing in silver.
As quoted in the market news:
Sentiment toward investing in silver has changed drastically since earlier this year when investors fled from the precious metal as stocks soared to record highs.
But recent geopolitical tensions, U.S. debt issues, and worries over a market crash have made investing in silver a smart option – and it’s turning more heads than gold.
Moreover, gold prices are likely to remain under pressure near term as uncertainty lingers regarding the timing and pace of the U.S. Federal Reserve‘s plan to scale back its share-price-driving stimulus programs. Since the first mumbling of a quantitative easing (QE) taper, gold prices have skidded some 18%.