Yet, it’s not the only reason. Demand for silver as an industrial metal has sent silver to record-high levels last seen in 2013. Silver price has almost doubled since March. In the beginning of this week, an ounce of silver was traded for roughly $22, while the same amount was worth for a bit more than $11 back in March, when silver appeared in its lowest values of the year.
Expensive metals have served to investors as an alternative to less profitable assets. These assets are mainly represented by bonds, which appear to be less attractive than both silver and gold when evaluating the expected yields. Moreover, investors expect values of both metals to grow as more anti-pandemic measures will probably be imposed by key central banks.
Reuters reported that analysts expect silver price to appear in $20 per ounce on average during next year. Yet, Citi analysts predict that next 6 to 12 months could send silver up to $25 per ounce.
