What was silvers all time high

But might it be repeated? Instead, he sees the overall rise in silver prices from the middle of last year as evidence of genuine investor appetite for an asset that was out of favour for much of the past decade. It also pushed total silver holdings in ETFs beyond 1bn ounces for the first time, reaching 1.

Inflows are expected to slow to 4, tonnes in , but that is still a big increase by historic standards. Slowing investor demand will be offset by increased industrial usage, say analysts. He adds that silver jewellery demand has been hit by the coronavirus too, particularly in the key Indian market. Still, he believes investor demand will not disappear, given worries about ultra-low interest rates, expanding central bank balance sheets, increases in fiscal spending and rising debt levels.

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Fed Balance Sheet vs Gold Price. Gold Prices vs Silver Prices. Platinum Prices - Historical Chart. Platinum Prices vs Gold Prices. Palladium Prices - Historical Chart. In the meantime, the supply of silver — usually extracted during the process of mining other metals — is likely to remain restrained. Silver also stands to gain from the reopening of the global economy following the coronavirus pandemic given a ramp up in industrial production as well as maintained investment demand, according to Max Layton, managing director of Commodities Research at Citi Global Markets.

He told CNBC on Tuesday that silver had benefited from investment demand during the pandemic, and was likely to continue to do so. This more than offset the weakness in industrial consumption, and continues to do so," he said.

However, he noted that a third wave of Covid, largely caused by variants, could continue to dampen industrial demand and "has taken the extreme bullish silver scenario off the table for now.