Silver price tripled from March 2020 low to February 2021 high. Silver broke through critical resistance in Q2 2024, reaching the highest price since 2012. Investment demand will determine how high silver can rise, with industrial demand increasing.
Reaffirmed Buy rating for iShares MSCI Global Silver and Metals Miners ETF due to positive outlook for silver miners and rising silver prices. SLVP outperformed S&P 500, rose 36.45% since last buy recommendation, driven by bullish sentiment on silver stocks. A positive correlation between silver and SLVP indicates the potential for continued growth in this ETF as current macroeconomic conditions and geopolitical factors act as a demand driver of sorts.