Is $40 silver price possible in 2021? Peter Hug answers
(Kitco News) - Once industrial demand picks up, more tailwinds for silver will push the metal closer to the $35 to $40 an ounce range next year, said Peter Hug, global trading director of Kitco Metals.
“There’s two elements. One, if we got the inflation scenario and gold took off, silver being an industrial metal, with the economies rebuilding and regenerating, we’ll get an industrial component of demand coming into the silver market and push silver from a ratio perspective higher than gold where the ratio is currently,” Hug said.