SLV - Silver: This Could Be The Big Move Bulls Have Been Waiting For

2024-04-09 01:07:24 ET

Summary

• Silver has a history of outperforming gold during bull markets and is poised for a comeback after years of underperformance.
• Deteriorating US fiscal and political conditions, along with strong industrial demand from AI, make silver's small market ripe for a surge in prices.
• Silver's breakout above its year-long channel highs suggests further gains and a potential test of the $30/oz level.

I have been bullish on silver since its 2020 lows and believe that the sideways trading following the post-Covid spike will give way to another, potentially stronger, rally in silver prices. After years of underperformance relative to gold the conditions are in place for a long-overdue reversal, fueled by rising speculative demand and an improving fundamental outlook. Last week's bullish breakout above its year-long channel highs has strengthened the short-term case for silver, and the broad based rally across the entire metals market suggests further gains, with a test of the $30/oz level looking likely....

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