The silver lining of the recession - Macleans.ca
 

The silver lining of the recession

Precious metals remain strong investment during downturn


 

Amidst strong demand for gold, the price of silver appears to be rising, indicating the resilience of precious metals in the face of economic downturn. Thanks in part to an increased scrappage value, in the final quarter of 2009, 50 per cent more valuers said the price of silver was going up rather than down, according to the Royal Institution of Chartered Surveyors. But it’s not just silver and gold that are attracting interest: jewelry and contemporary arts are also drawing investors. As RICS spokesman Jeremy Lamond explains, “It is clear that more traditional ‘safe haven’ items are still the preferred lots. As gold prices remained strong at the tail end of 2009, the market  witnessed heightened activity in precious metals and the demand for quality  pieces was particularly noticeable in the salesrooms.”

Telegraph


 
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The silver lining of the recession

  1. Yea well, try eating gold or silver, heating your home with it, or putting it in your tank. Hording precious metals is antisocial and exactly the wrong thing to do in a recession. Buying gold or silver takes cash out of the economy and parks it, when cash should be circulating and be put to use. Parking cash makes it that more difficult to return to a functioning economy. Maybe government should have a high tax on profit derived from parking cash in precious metals?