Friday, 21st January 2005 (3093 views)

The status of Gold as the most sought-after precious metal is set to continue unabated, according to new research, while silver remains on the slide.

A study by International Financial Services London (IFSL) found that gold's immediate future looks bright, with sustained high demand by investors and industry, as well as a continuation of its high cultural status.

Silver, however, is expected to continue its slump and could be downgraded to an industrial metal, the ifaonline website reports.

Demand for silver increased in the 1990s and overall demand for the metal has doubled in the past 15 years. However, IFSL says this has not been enough to prevent its value as an investment declining.

Furthermore, industrial demand for silver has also hit a slump due to the change to digital imaging, which has rendered the metal defunct as an ingredient in making film for cameras.

 

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