Silver hit a 1-year high. Here’s why it can keep climbing.

MarketWatch/Myra P. Saefong/5-3-2023

photo of silver coins stacked and in foreground“Demand for physical silver, and gold for that matter, is showing overall investor concern over the state of the economy, geopolitical turmoil, and potentially persistent inflation. The risks are creating a growing willingness to park money in safe-haven assets.” – Stephen Gardner, director, ETF Managers Group

USAGOLD note: The demand for silver coins and bullion is running at levels we have not seen for years. Investors see it as an undervalued safe-haven alternative to gold with the added benefit, as this article points out, of tech-based industrial demand. Silver sentiment got a big boost from a recent Silver Institute study revealing a record 237.7 million ounce supply deficit for 2022.

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