(VIANEWS) – Silver (SI) is currently on bearish momentum. At 08:50 EST on Friday, 16 September, Silver (SI) is at $19.07 and 1.03% down since the last session’s close.

Can silver continue to outperform gold? In the opinion of strategists at ANZ Bank, any short covering could provide another opportunity for silver to fare better than gold.

According to FXStreet, industrial demand for silver is holding up well from the solar sector, while jewellery demand is also gaining attention.

What Could Make Silver Outperform Gold?

In recent months, the price of silver has soared 34 percent, outperforming gold by over 33 per cent. While gold has received much more attention from investors in recent months, some analysts have become more bullish on silver than on gold. This is largely due to the fact that silver is undervalued compared to the broad commodity complex. Despite the low valuation of silver, it remains undervalued relative to gold and other assets of similar value.

Unlike gold, silver has shown a slow recovery from 2008, when the world’s financial crisis struck. However, the vast increase in the money supply since then has increased silver’s prospects. Moreover, the US Treasury has recently announced plans to borrow five times more in 2020. This is a positive for silver, but it still has a long way to go.

Despite the poor performance of gold, Costa says silver offers more opportunities to investors. This is due to the fact that silver is directly linked to gold’s performance, while being traded at lower volumes. This could make silver a better levered bet on the gold rally. In addition, silver is a more volatile commodity, which can make it an excellent long-term investment.

Although silver prices may be cheaper than gold, the economic backdrop is changing. If the world’s economy improves, silver prices could outperform gold, and its price could reach US$30 per ounce. The silver-gold ratio could fall to 77 percent in the next year. In addition, silver is currently trading at a discount to its fair value, which is a positive for the price.

Volume

Today’s last reported volume for Silver is 20389, 99.99% below its average volume of 17076672401.39.

Silver Range

Regarding Silver’s daily highs and lows, it’s 0.846% up from its trailing 24 hours low of $18.91 and 0.548% down from its trailing 24 hours high of $19.18.

Volatility

Silver’s last week, last month’s, and last quarter’s current intraday variation average was 1.53%, 0.21%, and 1.52%, respectively.

Silver’s highest amplitude of average volatility was 2.75% (last week), 1.73% (last month), and 1.52% (last quarter), respectively.

More news about Silver (SI).

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