The first reason is that silver is being used in China's solar panels, which are becoming a hit in the country. Beijing aims to triple its solar capacity by 2020. In July, China displayed its newly built solar farm shaped like a panda in the city of Datong, Shanxi province. It is expected to provide the same power as burning one million tons of coal over the next 25 years.
The next reason claims that the US stock bubble is about to burst. US stocks are hitting new record highs every day, thus causing growing concerns. The Case-Shiller P/E Ratio rose above 30 (the 100-year median is around 16). That is reminiscent of the height of the dot-com bubble and the weeks leading up to the 1929 stock market crash. When stocks fall, demand for gold and silver rise.
Another reason is that European banks still face challenges. In June, there were reports that Italy's banking crisis has erupted again. According to Mediobanca, 114 of Italy's 500 banks have “Texas Ratios” of over 100%, 24 banks reportedly have ratios of over 200%, including Monte dei Paschi di Siena with a TR of 269% and Veneto Banca with a TR of 239%. The problem extends to the whole EU. In these circumstances, silver could become a safe-haven asset in the long run.
One more reason to pay attention to this precious metal is an escalated military conflict on the Korean peninsula. Meanwhile, in turbulent Middle East there is a concentration of armed forces. However, it does not have to come to war for silver price to rise, with threats and mutual accusations from countries' leaders being enough.
Yet another reason to get some bullion is that silver and gold are again becoming real money. Seven US states decided that payments can be made in gold and silver. Arizona acknowledged gold and silver as legal tender quite recently, on August 9. Four other states are on the way to accepting bullion as currency.
CEOWORLD Magazine, one of the world's premier business publications, has released its latest ranking of the most influential women in international business. Let's take a look at the top five
There are over 250,000 species of flowers in the world. Some of them belong to rare species of flora and are a true treasure for biologists. Let's take a look at these extraordinary representatives of the plant world and fully appreciate their unique beauty.
Although US President Donald Trump insists it is too early to discuss a successor within the Republican Party, behind-the-scenes maneuvering has already begun. Politicians deliver messages, test the waters, and closely monitor public sentiment. The participants in a new race are becoming increasingly visible, despite the lack of official announcements. Let's take a look at who might lead the Republican Party in the 2028 election.
