Silver benefiting from increasing industrial demand

Sometimes you need a little bit of luck when making financial forecasts. In mid-September last year, we saw silver, trading at $20 an ounce, as a good long-term bet. And it began to rebound from a decline almost straight away. This week it reached $24, up by about a fifth. Measured in sterling, silver is around 17% higher. 

Yet silver’s rally should be put in context. In January 2021, the metal topped $28.50. In 2011 it hit $48.60, the all-time peak. And in real (inflation-adjusted) terms, dollar-priced silver is hardly any higher than in 1918. Over the next few years, however, silver could regain its former glory. The metal’s fundamentals are strong and improving. Furthermore, the macroeconomic backdrop is starting to look more promising.

Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.  

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