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.”