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- Silver to move towards $30 in 2021, outperforming gold – TDS
Silver to move towards $30 in 2021, outperforming gold – TDS
FXStreet reports that economists at TD Securities expect silver to outperform gold and reach the $30 level next year.
"Silver tends to do well when there is a favorable environment for gold. As such, it should respond positively to the same favourable macroeconomic, monetary conditions and fiscal drivers as does the yellow metal. Since silver has a historical volatility roughly double that of gold, based on historic norms it should outperform gold, when the yellow metal once again follows an upward price trajectory."
“In 2021, silver is likely to capitalize on the post-COVID industrial recovery as over 60% of silver demand comes from industrial sources.”
“Given supply is constrained and considering our improved demand projections, there will be pressure on the existing supply which should see silver move to $30/oz next year.”
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