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Are Silver Prices On The Verge of Another Short Squeeze?

By:
Phil Carr
Published: Apr 30, 2021, 07:40 GMT+00:00

As we head into May, attention has once again shifted to the Silver market with rumours of another attempt to push up prices.

Silver

In this article:

As we head into May, attention has once again shifted to the Silver market with rumours of another attempt to push up prices – under the movement, spearheaded by a group of retail traders known as #SilverSqueeze and #SilverRaid.

Elsewhere in the commodity markets, Palladium, Copper and other industrial metals have continued to take centre-stage this month. Palladium and Copper prices in particular have made an impressive start in Q2, 2021, driven by a big surge in Green Energy and Infrastructure spending this year.

This week, Palladium prices notched up further gains, surging at an all-time record high – almost in striking distance of the $3,000 mark.

Palladium’s explosive rally also pulled up Copper, which is now trading at a decade high. Copper prices have more than doubled since March last year.

There are plenty of fundamental factors why metals are on the move, but the key driver is a vaccine-led recovery fuelled by massive amounts of global stimulus into Green Energy and Infrastructure projects. This is against a backdrop of tightening supply across many high-in-demand commodities, which indicates that a new supercycle is now firmly underway.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Phil Carrcontributor

Phil Carr is co-founder and the Head of Trading at The Gold & Silver Club, an international Commodities Trading, Research and Data-Intelligence firm.

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