Should You Buy The Dip In Silver Now Or Wait?

Inflation is now running at its highest in a generation, with data U.S consumer prices in October rocketing at their fastest pace in three decades.

That trend is the same around the world with data showing in China and Japan, inflation is shattering records. While in many other economies, including the UK, Canada and Europe inflation is nearing its highest level in almost two decades.

Following Silvers strong performance, prices could head lower in the short-term as traders book profits towards the end of the month.

Silver typically performs better than Gold when inflation rises, therefore over the long term, Silver prices should remain buoyant.

Silver is not only an excellent inflation hedge, but it’s also a key component in everything from electric vehicles, renewable energy to 5G technology. Based on our proprietary research, photovoltaic demand for silver could exceed 3000 tonnes by the first half of 2022 – while the 5G rollout – which is only just beginning – will be a major driver of demand for years to come.

Silver is a very thin market that generally has a habit of lagging behind the rest of the commodities complex for extended periods of time – but once it gets going, it really gets going. In my opinion, any substantial pullbacks this month should be viewed as buying opportunities.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.