Related: Renewed Affinity For Gold Could Benefit Silver ETFs
SLV currently resides slightly above its 200-day moving average and 11.63% below its 52-week high. Other market observers are bullish on silver as well.
“Ira Epstein, director of the Ira Epstein Division of Linn & Associates, Inc., also said that he is bullish on the metal in a note to clients,” reports Kitco. “Epstein said that he sees a potential for silver to move higher through the year as it looks like the Fed will scale back its monetary policy tightening.”
For more information on the silver market, visit our silver category.