So far, silver hasn’t been the hottest commodity on Wall Street in 2024 - but that doesn’t mean it doesn’t have potential. While gold futures (GCJ24) have set new record highs this year amid lingering inflation concerns, silver futures (SIK24) are just getting started. After a quiet start to 2024, the front-month contract has rallied 11.6% so far in March, and is now on pace to challenge the key overhead $26 level.
Notably, The Silver Institute projects an increase in industrial demand by 8% to a record 632 million ounces, which could further fuel the metal's rise. Against this backdrop, here's a look at one silver stock that analysts believe has significant upside potential.
