by Richard (Rick) Mills
Ahead of the Herd
Spot silver jumped to $28.32 an ounce in August 2020, its best performance in seven years, and though the price retreated last fall, it finished the year up an impressive 47%, more than doubling gold’s 22% gain.
[…] In late January silver kicked higher after a Reddit WallStreetBets subpost triggered a call to buy. A flurry of purchases saw silver blow past $28 and touch $31 briefly, before falling back. Since March, the white metal has been trading in a fairly tight range between $26 and $28.
[…] However, the silver outlook is extremely positive due to a combination of strong monetary and industrial demand drivers.
According to the 2021 World Silver Survey, by The Silver Institute, global demand for silver this year is expected to outpace supply by 7% (+ 8% supply vs +15% demand).