As the global economy reopens and the green energy and infrastructure spending boom gathers pace – Silver’s bullish trajectory shows no signs of slowing down anytime soon.
Silver prices are currently trading above $27 an ounce. That’s an 86% rise from a year ago when the spot price was around $15 per oz. Last week, Iron Ore broke $200 a ton for the first time ever. Palladium broke above $3,000 to hit a new record high and Copper prices surged more than 10% to surpass an all-time high.

Silver is a key component in everything from electric vehicles, renewable energy to solar power technology. However, supply is limited, which means there is a risk of a real Silver squeeze this year.

As governments around the world pursue more aggressive Green Energy and Infrastructure policies to reach net-zero carbon emissions by 2030 or sooner – this alone will continue to be a major driver of Silver demand for years to come.

Investors continue to seek opportunities where they can buy the dip, and we have outlined possible pull-back targets with our 50MA, on the H4 time frame. Bulls really can get the wind behind their step, should the market clear and close above $30 per oz. With sights on 2013 tops around the $35 in clear reach.

Remember, the Silver market moves very fast, remains volatile, so you should trade this with a lot of caution. Some brokers, including us, price Silver to the 5,000th oz, which means that trades are even riskier.