Key Points
Silver has outperformed gold over the past year, with its price rising 126% to approximately $74.42 as of April 23, compared to gold’s 40.5% increase. Notably, silver peaked at $121 per ounce in late January before declining due to supply constraints and expectations surrounding new Federal Reserve chair Kevin Warsh, who is perceived as an inflation hawk. Analysts from JPMorgan Global Research forecast silver to reach around $81 per ounce by year’s end, driven by ongoing industrial demand and geopolitical uncertainties.
The iShares Silver Trust (NYSEMKT: SLV), which is the largest silver ETF with around $36 billion in assets, has seen a 124% return over the past year, although it is only up 3.5% year-to-date due to recent market volatility. Historically, SLV averages a 22.4% annualized return over the past five years and is considered a stabilizing investment during stock market downturns.
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