The iShares Silver Trust (NYSEArca: SLV) and ETFS Physical Silver Shares (NYSEArca: SIVR) each gained nearly 6% last year. Those were solid though not awe-inspiring among commodities exchange traded products, but some market observers while the white metal will be a strong performer in 2018.

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.

“Silver’s recent setup gives us reason to believe there is a seasonal trade afoot. Just take a look at what’s happened in years prior: If you’d bought silver on Jan. 5 and have held through Feb. 14, you’ve made money in 13 of the last 15 years,” reports CNBC. “For us, this seasonal trade aligns perfectly with a breakout above major three-star resistance, and a run of the same distance as we saw last July. We seem to be seeing a pattern similar to that of last summer unfolding right before our eyes.”

Some data points suggest traders are comfortable getting long silver.

“For the third week in a row, the Commitment of Traders data released on Friday reflected a net short position in silver for the week ending Dec. 26. The last time silver boasted a net short position was the week ending July 18; that month, silver bottomed and kicked off a rally of $3, or 20 percent,” according to CNBC.

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