Keep your eyes on silver prices heading into June [Video]
|Silver is once again starting to attract a lot of attention on a scale not seen since the global financial crisis in 2008.
Rising inflation expectations and the Fed’s pledge to keep rates lower for longer – combined with the coming green energy and infrastructure spending boom, are some of the many factors that have revived interest in Silver.
Often overlooked in favour of its precious metal cousin Gold – Silver prices have tallied up an impressive gain of over 80% in the last year.
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 $14.50 an ounce.
If you want to know where Silver prices are heading next, then just take a look at the impressive gains across the rest of the metals complex from Copper, Iron Ore to Palladium.
This month, 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 surpass an all-time high.
Silver is still relatively cheap compared with its peers and certainly has a lot of catching up to do. In my opinion, Silver is definitely the best trade right now and the one to watch heading into June.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.