Silver could hit a nine-year high of $30 per ounce this year and become a better performer than gold.
Insufficient supplies of silver — as well as its tendency to be a better performer than gold in periods of high inflation — are the reasons.
"Silver has historically delivered gains of close to 20% per annum in years inflation is high. Given that track record, and how cheap silver remains relative to gold, it wouldn't surprise to see silver head towards $30 per ounce this year, though that will likely offer significant resistance," said Janie Simpson, CEO at ABC Bullion., up from around $4 in 1976, when the rate of inflation was cooler at 5.7%.
"The largest segment of silver demand is industrial, [which equates] to almost 50% of total demand," he said, calling for a base case of silver prices to climb to $28, with a bullish case of $30 or more.President of Wheaton Precious Metals The supply of silver, which is largely produced as a byproduct of lead-zinc, copper and gold mines, does not generally respond as quickly to demand.
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