Oil prices took a hit Wednesday, falling close to a one-year low to levels last seen in August 2016. What could this mean for the precious metals, particularly silver? According to Kitco’s global trading director Peter Hug, silver may be in for some trouble if this oil slump continues. “There is some concern that industrial demand for silver will also drop,” he said. “I think that’s why you’re seeing the gold-to-silver ratio widening out to where it is today.”
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Oil Takes a Dive; Can It Drag Silver Down With It? - Peter Hug | |
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| News & Politics | Upload TimePublished on 21 Jun 2017 |
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