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.

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