Precious metals were the best performing asset class for the second successive year and the fourth time in the past five years, according to new research by Lloyds TSB.
Silver outperformed the other precious metals in 2010 with prices rising by 80%; more than two and a half times the increase in gold prices (29%) and four times the rise in the value of platinum (20%). In addition to its position as a safe haven investment, pressures on the supply side and high demand for industrial uses contributed to the strong rise in the price of silver. Silver continued to shine brightest into 2011 with prices rising by 9.3% over the first two months of the year.
Commodities were the top performing asset class over the first two months of 2011, providing a return of 7.5%. Within commodities, cotton recorded the largest price gain since the start of the year with a price rise of 38%, driven by a combination of increasing demand from Asia and greater supply side pressures as flooding affected some of the major cotton producing countries.
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