- Surging U.S. real bond yields appear to be putting pressure on investment demand for silver, while a deteriorating economic growth outlook poses a risk to industrial demand.
- However, the metal is now trading at record levels of undervaluation relative to gold and the commodity complex, and should benefit from the ongoing rapid expansion of U.S. money supply.
- On balance, I continue to see the metal as a buy, particularly from a long-term perspective.
- As the world's leading silver ETF, the iShares Silver Trust, which has tracked the spot price with a median 12-month tracking error of just 0.48%, should continue to offer investors direct exposure to the metal.
For further details see:
SLV: Weighing Up Silver's Bull And Bear Case