After lagging other precious metals last year, silver entered 2018 as rebound candidate. The iShares Silver Trust (NYSEArca: SLV) and ETFS Physical Silver Shares (NYSEArca: SIVR) are up more than 3% since the start of the year.

Silver could get another boost if gold prices start rebounding in earnest. Indian demand is vital for gold because the country is the second-largest buyer of the yellow metal behind China. India, one of the world’s largest gold consumers, could be set to lower its import tax on bullion, which could be major catalyst for gold prices.

Moreover, a slumping dollar is boosting commodities prices. The PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP), the exchange traded fund proxy for the U.S. Dollar Index (DXY), fell more than 1% Wednesday, extending its year-to-date decline to over 3%. UUP tracks movements against a basket of currencies including euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc.

Moreover, unlike gold, silver sees much higher industrial demand. The precious metal enjoys heavy industrial demand that benefits from an expanding global economy. On a technical basis, silver looks appealing, as well.

“The silver market and investors are taking in stride tariffs on solar panels imported into the U.S.; analysts say that they see the move having limited impact on prices through 2018,” reports Kitco News. “Monday, President Donald Trump approved applying safeguard tariffs for the next four years on imported solar cells and modules. The sector would see a 30% tariff in the first year, a 25% tax in the second year, a 20% tax in the third year and a 15% tariff in the fourth year.”

Investors can tap silver equities with the Global X Silvers Miners ETF (NYSEArca: SIL) and related ETFs. SIL, the largest silver miner-related ETF, tries to mirror the Solactive Global Silver Miners Total Return Index, which is also comprised of global silver miners.

“The tariffs come as silver continues to underperform gold prices, with markets ignoring favorable supply and demand fundamentals as industrial demand for silver is expected to grow through 2018 while mine supply continues to shrink,” according to Kitco News.

For more information on the silver market, visit our silver category.