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Analysts expect the metal’s demand to climb 15% globally this year to 1.03 billion ounces. Given silver’s heavy industrial usage and rebounding industrial activities, spot silver prices have bounced back to settle at $24.45 per ounce. The rally was driven by the passage of the b-partisan infrastructure bill this week, which is expected to bolster the demand for silver for electrical grids, WiFi, and electric vehicle charging stations. The iShares Silver Trust (NYSE:SLV) ETF has gained 8.1% over the past month versus the broader SPDR S&P 500 ETF Trust’s (SPY) 7.1% returns.
Given this backdrop, we think fundamentally strong silver stocks Pan American Silver Corp . (PAAS) and Silvercorp Metals Inc . (SVM) could be ideal bets now.
