"Silver is likely to continue its outperformance,” Manoj Jain, Director / Head of Commodity and Currency Research, Prithvi Finmart, told NDTV. He added that “The dollar value is on the decline as US growth is at an all-time low. Discovery of a Covid-19 vaccine will lead to a rebound in global industrial activity and push silver rates still higher."
Gold, which is a traditional safe-haven asset at a time of economic uncertainty and a hedge against inflation, is also likely to do well as many central banks are increasing their gold reserves to reduce their dependence on the dollar. However, an increased appetite for riskier assets could limit gold's advance, Jain said.
His target for silver over a 2-3 years horizon is $49 dollars on Comex. For gold, the expert is projecting $2,500 in the next 2-3 years.
August 17, 2020