Philip Newman, MD of Metals Focus, said that he expects silver to touch US $32 an ounce this year. "We certainly see silver get back to USD 30 per ounce but the high for this year is around USD 32 per ounce,” said Newman.

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He said silver is doing well and there will be further gains this year because of the recovery expected from the industrial output.

“We are expecting silver prices to have a very good year. We are certainly expecting silver to have a strong recovery this year. It will take some time before we recover all the losses. With the recent lockdowns that have been announced in India, that certainly adds to important headwinds for this year as well,” he explained.

For the full interview, watch the video.

(Edited by : Priyanka Rathi)

First Published:Apr 23, 2021 3:31 PM IST