It is hard to find an asset on more of a roll than silver.
“It seems the precious metal has been caught up in the perfect storm,” says Jeroen Blokland, senior portfolio manager at Robeco Asset Management.
Much of what’s driving silver also is driving gold — aggressive monetary policy financing of fiscal spending, which limits the ability of bond yields to rise. That is sending inflation-adjusted, or real, yields lower, which tends to boost precious metals.
In addition, silver is still cheap relative to gold GC00, 0.36% by historical measures.