Silver leads the way in Q1 2015

It’s been a tough year for commodities.  The graph below shows their relative performance for the first quarter in USD.  Silver is a standout exception, second only to the resurgent Uranium price and with gold almost even.  But for Aussie investors this is only half the story.  A lot of gold’s troubles have been the surging USD.  So when we look at gold and silver in AUD it’s a very different picture.  For the first quarter of 2015 gold was UP 7.0% and silver double that at 14.1%.  We saw much higher of course at the end of January with the Swiss National Bank incident which gave us just a little preview, with a globally relatively small ‘shock’, at what happens when there is such a shock in financial systems.  Many investors would be happy with 7% or 14% returns when the majority of talk is still about those markets ‘struggling’.