Expressing XAGUSD Higher

A further pop likely, along with longer-dated views.

Silver (XAG/USD) has risen 11.4% in the past month, with the bulk of this move coming in just the past week. Now at 13-year highs, some have flagged the short-term move as overdone already.

Yet when we consider the move relative to what we’ve seen in gold (XAU/USD), as well as the likely resurgent investor interest, industrial demand dynamics and more, there’s a compelling case to be made for silver to keep running.

Given the recent price action, what’ll be more important is how to express the view.