If Silver Heads Higher, Silver Miners Could Explode By StockNews – Investing.com
- Date: 23-Apr-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
If Silver Heads Higher, Silver Miners Could Explode By StockNews – Investing.com
© Reuters. If Silver Heads Higher, Silver Miners Could Explode
With gold trending higher, is silver next? Silver prices tend to follow gold, which means the metal could see higher prices in the weeks ahead. Silver mining stocks typically outperform silver, which is why Andrew Hecht is recommending the ETFMG Prime Junior Silver Miners ETF (SILJ).Silver often follows gold- the yellow metal has been trending higher
Silver's technical trend remains higher since moving above $21 per ounce
Three reasons gold and silver should continue to make higher highs
Silver mining stocks tend to outperform the metal during rallies
SILJ is the junior mining ETF that diversifies risk- A potential for explosive growth
Silver is a highly volatile precious metal. In 2020, the price traded in an over $18 range. After hitting the lowest level since 2009 at $11.74 in March 2020, during the height of the global pandemic, the price more than doubled. Silver reached the highest price since 2013 when it moved to just below $30 last August. In Q1 2021, silver made a marginally higher high when the continuous futures contract reached $30.35 on February 1. The GameStop (NYSE:) crowd bought silver, but the price ran out of upside steam at the new peak.Silver