Skip to main content

Silver will continue to underperform gold in 2018

At first glance, the recent poor performance of silver would appear surprising given that both gold and industrial metals prices rallied in 2017. However, we think that reduced safe-haven demand has undermined silver, as investors tend to favour gold when geopolitical risks are high. We expect this trend to continue into 2018, which is one reason behind our bearish view on the price of silver this year.

Subscriber content

Read this in full, free

Start a free trial and use one of your 10 free starter credits to unlock this piece.


Free. 10 articles. No card required.

By completing this form you are agreeing to our Terms and Conditions for the provision of a free trial of Capital Economics' services. We take your privacy seriously and will not share your details with others without your consent. By providing your details, including your email address, you are consenting to Capital Economics sending you macroeconomic commentary and analysis. You can unsubscribe at any time. See our Privacy Policy for more information.