Silver: fool’s gold or a value opportunity?

New York (July 12)  Silver just doesn’t draw a crowd like gold. From newlyweds to despots, mythical Greek kings to conspiracy theorists, the yellow metal occupies a revered place in global history, with silver more an afterthought than a precious runner-up. Apparently, you can add investors to the above list. Since 2011, the dollar-denominated gold-silver ratio (how many ounces of silver one ounce of gold will buy you) has more than doubled to 80:1. The last time the multiple was this high Lehman Brothers had just collapsed; a full decade on, market risk only seems to lead to bids for gold.

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