Platinum Surges To Six-Year Highs. Could Silver Be Next?

Everyone from Goldman Sachs to Bank of America have been calling for a bull market in commodities, since the turn of the year. JPMorgan is now the latest Wall Street bank predicting the start of a new commodities super-cycle in 2021.

JP Morgan Analysts noted in their latest report that “a long-term boom across the commodities complex appears underway and there could be big gains ahead for the entire sector”.

Prices may also jump as an “unintended consequence” of the fight against climate change, which threatens to constrain oil supplies while boosting demand for metals needed to build renewable energy infrastructure, batteries and electric vehicles. One such metal is silver.

Silver is a key component in renewable energy and solar power technology. Based on our proprietary research, photovoltaic demand for silver could exceed 3000 tonnes in 2021 – and that’s just the beginning.

As governments around the world pursue more aggressive environmental policies to combat climate change – this alone will continue to be a major driver of silver demand for years to come.

Silver was already traders’ favourite last year as the precious metal rallied nearly 60% – and still remains one to watch in 2021.

Earlier this week, Platinum took centre-stage rallying to six-year highs. Platinum’s explosive rally also pulled sister metal Palladium higher, which is now up 70% in the past 12 months. Meanwhile Rhodium, which is like Platinum on steroids – has surged from $3,000 in February 2019, to a new all-time high of $21,000 in February 2021. That’s a staggering gain of 600% within the past two years.

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

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