Silver held above $27 per troy ounce for the fifth session in a row on Wednesday, hovering at an over 10-week high supported by expectations of increased industrial demand as the economic recovery gathers pace. The white metal also rose on some safe-haven bids stemming from the ongoing coronavirus crises as infection rates continue to accelerate in India. Meantime, latest data showed the US inflation jumped to an annual rate of 4.2% in April, the biggest increase since September 2008 and above market expectations of 3.6%.
Historically, Silver reached an all time high of 49.51 in April of 2011. Silver - data, forecasts, historical chart - was last updated on May of 2021.
Silver is expected to trade at 26.61 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24.13 in 12 months time.