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Familiar Catalysts Emerge Anew for Silver, PSLV

March 17, 2021 Pay enough attention to the silver market this year and you’re sure to hear something about short covering and squeezes. That chatter is starting up again, and it could be to the benefit of the  “Silver once again outperformed Gold today by gains, Silver is up just over 1%, while Gold gained only 0.24%. According to the CFTC data as of March 9, there is a 20,000 spread between the overall net positions on Silver Futures, with an edge going to short positions,” reports PSLV is a closed-end fund that lets investors redeem large blocks of shares in exchange for delivery of silver bullion.

Silver s Crucial Role in a Clean Energy Future

The asset is a closed-end fund that lets investors redeem large blocks of shares in exchange for delivery of silver bullion. Adding to the case for PSLV is silver’s durability during the worst of the coronavirus pandemic and expectations that it will perform well when COVID-19 is defeated. A major, longer-ranging catalyst for PSLV and silver prices is the metal’s role in the booming renewable energy industry. “As clean energy initiatives gain traction, greater attention is being paid to the critical roles of various metals and minerals,” writes Sprott portfolio manager Maria Smirnova. “Access to these valuable materials has become critically important, which is why several resource-rich nations, including Canada and Australia, have joined the United States in establishing the Energy Resource Governance Initiative (ERGI), an alliance to disseminate best practices for discovering and developing reserves of minerals used to make electric vehicles.”

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