Will Silver Break Back Above $30 Before Gold Breaks $2000?

Often overlooked in favour of its precious metal cousin Gold – Silver prices have tallied up an impressive gain of over 80% in the last year.

Silver prices are currently trading above $27 an ounce. That’s a whopping 86% rise from a year ago, when the spot price was around $14.50 an ounce.

In similar fashion to the whole commodities sector, Silver is once again starting to attract a lot of attention on a scale not seen since the global financial crisis in 2008.

There are several factors at play that have lured traders back into Silver, which include rising inflation expectations, the Fed’s pledge to keep rates lower for longer and of course the upcoming green energy and infrastructure spending boom.

If you want to know where Silver prices are heading next, then just take a look at the impressive gains across the rest of the metals complex from Copper, Iron Ore to Palladium.

This month, Iron Ore broke $200 a ton for the first time ever. Palladium broke above $3,000 to hit a new record high and Copper prices surpass an all-time high.

Silver is still relatively cheap compared with its peers and certainly has a lot of catching up to do. In my opinion, Silver is definitely the best trade right now and the one to watch heading into June.

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

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