Silver
The rise higher in silver has been one of the movers on the wallstreetbets phenomena which has spilled over into this precious metal. The difference between the rise higher in silver and stocks like GME and AMC is that there are some big investment groups who have been bullish on silver.
Silver has a strong time of year on industrial demand
Investment firms bullish on silver
- Goldman Sachs has silver down as it's 'preferred' precious metal with a 12 month target of $30/oz. The rationale is that it benefits from USD falls and green tech demand
- Citi see silver peaking at $28-$30 oz on a demand recovery
- UBS make a case for $30 by the end of Q1.
Seasonal demand is good for silver. Over the last 25 years silver has gained a total of 16 times between Jan 31 and Feb 18. The largest gain was in 2009 with a +15.13% gain. The largest fall was in 2001 with a -7.79% loss.
So, there is a good case for buying silver on the dips.
