“With global economic growth not derailed by recent financial market jitters, we believe demand for electronics, solders and photovoltaic solar panels (the engine of silver demand) to remain strong,” Gold said.

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Platinum, along with the ETFS Physical Platinum Shares (NYSEArca: PPLT), has also found support from strong demand across precious metals, but the white metal has come under pressure due to its strong correlation to the South African Rand – South Africa is a major producer of platinum and has seen its currency appreciate in recent months.

Related: Why Investors Shouldn’t Overlook Platinum ETFs

However, Gold argued that the market is discounting the stronger fundamentals for platinum, with European car sales – the largest auto market using platinum catalysts – showing evidence of growth.

Lastly, palladium, along with the ETFS Physical Palladium Shares (NYSEArca: PALL), has also seen a increase in activity, following the Brexit selling.

Fundamentals also support the palladium outlook as the market remains in a supply deficit for the past four years, with another deficit on track in 2016. On the demand side, auto applications account for 70% of demand, and auto market strength will see the palladium market tighten further, Gold said.

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