The rising demand from the solar sector will drive silver’s growth over the next five years, noted Edel Tully, a strategist for the leading Swiss financial services company. UBS forecasts the global solar demand to double over the next five year period.
The solar sector silver demand had shown signs of improvement during the second half of 2013. The fall in silver prices added further to the demand growth.
The report concludes silver is likely to perform better than gold. Silver’s link with industrial activity makes it better poised than gold to benefit from the global economic recovery. The projected growth prospects of silver may trigger investors to start looking at silver again.
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