Are Silver Prices On The Verge of Another Short Squeeze?
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:
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