Silver attracts safe haven interest similarly to gold and is likely to benefit from the same economic conditions.
(1888PressRelease) August 16, 2011 - MIAMI, FL - With all the recent hype on gold's meteoric rise less attention has been paid to its lowlier sibling, silver. As gold prices skyrocket, silver offers a more attractive and affordable entry point to the world of precious metals investing. Like gold, silver benefits from safe haven investment demand; silver, like gold, is seen as a viable alternative to paper currency and is easily marketable.
At present silver is holding just shy of $40 an ounce. Many investors may be wary of silver since it rose rapidly to almost $50, only to fall dramatically. Recovery, however, has been solid and silver has a tendency to be dragged along on gold's coattails as a safe haven in times of economic crisis. Both gold and silver stand to benefit amid ongoing concerns about sovereign debt crises in Europe and the uncertainty regarding fiscal stability in the US.
"Silver sees investment demand as 'poor man's gold'," says Bill Hionas who leads Pan American Metals of Miami, a precious metals brokerage trading in gold, silver, platinum and palladium. "We saw huge demand for silver from investors earlier in the year; dramatic events in the gold market have eclipsed silver in recent months but silver bullion remains a solid investment that should form part of anyone's portfolio."
Since silver also sees considerable industrial demand it would seem that, on balance, it should be difficult for silver to 'lose'. If there is, as many fear, a double dip recession, then industrial demand may fall but safe haven demand is likely to grow. On the other hand if investment demand drops off and the economy picks up, then silver will see industrial demand rise.
About Bill Hionas:
Bill Hionas is CEO of Pan American Metals of Miami, LLC, a group of traders, investors and brokers who combine many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Silver attracts safe haven interest similarly to gold and is likely to benefit from the same economic conditions. 
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