Silver Price News: Silver Points Up to $25 on Metal’s Strong Demand Outlook

Silver is pushing back up towards $25 an ounce as traders and investors await the latest US employment figures that will provide a better insight into how well the world’s largest economy is faring. 

Silver has been on a strong run since the second half of August as attention has finally switched to the metal’s strong fundamental outlook, which sees demand outpacing supply for the foreseeable future. 

While industrial demand hasn’t materially changed, silver’s prospects were dented by the focus instead being on the Federal Reserve, and other central banks, series of interest rate hikes which reduced the appeal of the non-yielding bearing of physical silver. 

Now with the Fed in particular looking to be very close to the end of its rate hike cycle, this has enabled silver to make considerable gains with the metal’s excellent conductivity making it a key component in the energy transition. 

With this dynamic unlikely to change for many months yet, September could see further gains for silver with $26 the first major target followed by the highs of the last two years just above that threshold.