While silver prices are currently lagging behind other metals, like copper, which are rallying in a post-COVID economic recovery boom, the precious metal has been enjoying a remarkable uptick since April 2020 and is still hovering near its 52-week high. The rapid price increase over the last year likely is tied to the volatility of the market as silver, like gold, is often used as a store-of-value asset by investors looking to hedge against unstable markets.
Even so, the trend is likely to continue even as the market stabilizes as increased demand for silver from the renewable energy industry reveals that silver is far more than a store-of-value asset. Here are some trends to watch for in the silver market this year.
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