Precious metals...silver price shatters records

Permanent portfolio shines

The S&P 500 hit a new record high this week, but by far the more exciting action of late has been in silver.

China is facing a physical shortage of silver, while industrial demand for the metal remains strong (including from electronic vehicles), and the price action has continued to be...well, electric!

The silver price is trading another +9 per cent higher today, to be up by more than a rip-snorting +160 per cent this year.

Silver is now very rapidly closing in on Nvidia to become the second largest asset in the world. 

December has seen the biggest monthly percentage gain for the silver price since the 1970s. 

A word of caution - moves of this magnitude in the silver market can obviously unwind pretty quickly too, and quite probably soon after the new year.

Still, the price action this year has been a pretty good advert for the permanent portfolio investment strategy, with the price of gold also up spectacularly by around +60 per cent this year.

Indeed, the shiny metal has now comfortably outperformed the total returns from the US stock market over the past quarter of a century.

Amazing stuff.

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