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27.05.202110:59 Forex Analysis & Reviews: Silver soars due to green energy technologies

Exchange Rates 27.05.2021 analysis

Gold may have received a lot of attention this year, but according to Metal Focus, silver will outstrip the yellow metal in terms of growth. Such statements came at a time when gold was experiencing a two-month rally caused by investors seeking insurance against growing inflationary threat brought by low interest rates. And according to the latest data, gold to silver ratio has risen to approximately 70 points.

Exchange Rates 27.05.2021 analysis

Metals Focus reported that silver prices lagged behind in recent weeks, as did copper, which fell from $ 10,000. But demand remains robust, which means that silver should continue to grow in the coming months.

The research firm also indicated that financial and monetary stimulus will help support economic growth, which will benefit manufactured goods. Low interest rates will also encourage investment in both silver and gold.

In fact, demand for physical bullion reached record levels in the first quarter of this year, jumping 43% year-on-year. Demand for gold bullion also soared, thanks to the promises of central banks regarding monetary policy.

But silver will soon outperform gold in terms of growth, mainly due to the development of green energy technologies.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2021
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