Phil Carr
The Gold & Silver Club
Silver is very often overlooked in favor of its glistening cousin Gold, however Silver prices have tallied up an impressive gain of over 80% in the last year.
As the global economy reopens and the green energy and infrastructure spending boom gathers pace – Silver’s bullish trajectory shows no signs of slowing down anytime soon.
Silver prices are currently trading above $27 an ounce. That’s a whopping 86% rise from a year ago when the spot price was around $14.5 an ounce.
If you want to know where Silver prices are heading next, then just take a look at the booming gains across the rest of the industrial metals from Copper, Iron Ore to Palladium.
Last week, Iron Ore broke $200 a ton for the first time ever. Palladium broke above $3,000 to hit a new record high and Copper prices surged more than 10% to surpass an all-time high.
The industrial metals market is seeing a confluence of bullish factors, which include a surge in demand and falling supply, which is pushing prices to record highs.
And the Silver market is no different.
Silver is a key component in everything from electric vehicles, renewable energy to solar power technology. However, supply is limited, which means there is a risk of a real Silver squeeze this year.
As governments around the world pursue more aggressive Green Energy and Infrastructure policies to reach net-zero carbon emissions by 2030 or sooner – this alone will continue to be a major driver of Silver demand for years to come.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Trading has large potential rewards, but also large potential risk and may not be suitable for all investors. The value of your investments and income may go down as well as up. You should not speculate with capital that you cannot afford to lose. Ensure you fully understand the risks and seek independent advice if necessary.
Recommended Content
Editors’ Picks
EUR/USD stays below 1.1100, looks to post weekly losses
EUR/USD continues to trade in a narrow range below 1.1100 and remains on track to end the week in negative territory. Earlier in the day, monthly PCE inflation data from the US came in line with the market expectation, failing to trigger a reaction.
GBP/USD struggles to find a foothold, trades near 1.3150
GBP/USD stays on the back foot and trades in negative territory at around 1.3150 on Friday. The US Dollar holds its ground following the July PCE inflation data and doesn't allow the pair to stage a rebound heading into the weekend.
Gold retreats toward $2,500 ahead of the weekend
Gold stays under modest bearish pressure and declines toward $2,500 in the American session on Friday. The 10-year US Treasury bond yield edges higher toward 3.9% after US PCE inflation data, causing XAU/USD to stretch lower.
Week ahead – Investors brace for NFP amid Fed rate cut speculation
Here comes another NFP week, with investors eagerly awaiting the results as they try to discern the size and pace of the Fed’s forthcoming rate cuts. The weaker than expected July numbers triggered market turbulence, instilling fears about a potential recession in the US.
Easing Eurozone inflation to back an ECB rate cut in September Premium
Eurostat will publish the preliminary estimate of the August Eurozone Harmonized Index of Consumer Prices on Friday, and the anticipated outcome will back up the case for another European Central Bank interest rate cut when policymakers meet in September.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.