Vaultoro Silver Bullish Gold
Published on

Silver may Hit $20 Before Gold Breaks Above $1,900 due to Difference in Industrial Demand

More and more analysts are coming out in favor of a bullish silver price trend. Seeing the price hit $20 and even go well beyond this level is not impossible. In fact,this may happen a lot sooner than people might think.

Silver is Turning Bullish

The year 2020 has been filled with a lot of prominent momentum for precious metals. Both gold and silver have noted very strong gains, despite suffering from volatility in March of this year. Unlike other markets, both of these commodities bounced back very strongly, and simply resumed their uptrend as if nothing happened. 

Contributing to this ongoing success are fears over a second COVID-19 infection wave. Numerous countries are seeing a hefty spike after weeks of maintaining a status quo. This is worrisome for  a lot of different reasons. Not only does it show the virus isn’t done rampaging, but it will also trigger a domino effect in the financial industry.

Just yesterday, 212,000 new COVID-19 infections were reported globally. It is the highest single-day increase since this pandemic started taking shape. Most of the cases were reported in the US, India and Brazil. Notable increases also occurred in Italy, Spain, and a handful of other countries. Keeping those regions in check will be the next order of business. 

Despite that bleak outlook, the stock markets are bouncing back nicely. Gains of over 5% are not uncommon in recent weeks. Primarily Asia is noting a strong uptrend, albeit it remains to be seen how things evolve. 

Silver-Gold Ratio Evolves Nicely

Keeping all of this information in mind, it is all the more likely that precious metals will continue their uptrend. Safe haven assets are in high demand during times of financial uncertainty. Silver has a leg up over gold, as it has a much higher demand from industrial uses. That alone can easily elevate the silver price to $19 and higher in the weeks to come. 

Following recent gains, the silver-gold ratio dropped to 97.3 again. This is the lowest point in the last few weeks, which is always crucial to keep an eye on. Considering how this ratio peaked at 127 earlier this year, the recovery of silver has been nothing short of amazing. 

The big question is where things will go from here. More and more people expect the silver price to surpass $20 this year. 

Judging by the popularity and gains noted by silver-backed ETPs, it is evident that something will have to happen. Net demand to buy physical silver from trading platforms is also on the rise. 

Investing in precious metals, such as silver and gold, may be the best decision investors can make in 2020. 

vaultoro logo clear

Store Crypto Profits in
Physical Gold


Trade Back to Crypto Anytime

Name Price24H %
bitcoin
Bitcoin(BTC)
$57,283.005.54%
ethereum
Ethereum(ETH)
$4,320.236.42%
litecoin
Litecoin(LTC)
$197.934.94%
dash
Dash(DASH)
$179.501.59%

Share

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on telegram
Share on whatsapp
categories

Related articles

What Is A Network Effect And Why Does it Matter?

The Magic Behind Asset Allocation and Diversification

What Is A Short Squeeze In Cryptocurrency?

The Standard Token Pre-Market Distribution for verified Vaultoro customers

Understanding The Psychological Nature Of Market Trends

What Is Dollar-Cost Averaging (DCA)?

1 thought on “Silver may Hit $20 Before Gold Breaks Above $1,900 due to Difference in Industrial Demand”

  1. Pingback: What are Silver Mining Stocks and why do They Matter?, Bar9, Simple Wealth Protection

Leave a Comment

Your email address will not be published. Required fields are marked *

Subscribe To Our Crypto Must Read Weekly Newsletter

How do people make money in the crypto space? They stay ahead of the crowd,

Vaultoro buy and sell gold bullion with bitcoin and crypto
Time for a new experience

Please choose