ASX Silver stocks are currently in a lull. I hold Andean Silver (ASX: ASL), Unico Silver (ASX: USL) and Sun Silver (ASX: SS1), all of which are up, but off their highs so far this year. Would you buy at current prices, do you have any preferred silver stocks and how do you see the valuations going forward? Thanks.
The silver price has been subdued since mid-March after the speculative bubble burst in late January. Ultimately we believe it can rally back towards its pre-war levels, around 20% higher, but it’s likely to need a softer $US and a return to an easing bias by the Fed, both of which need a resolution to the US-Iran conflict.
The market followed the usual script overnight with war optimism sending stocks, bonds, precious metals and copper all higher. Silver surged more than 5% through last nights session, trading back to mid-March levels, noticeably not as strong as stocks because the market was way too long into February as the speculative bubble burst causing the precious metal to halve in price.
Precious metals came off their highs overnight as Iran rebuffed Washingtons initial 15-point peace plan, no great surprise there in our opinion. Gold and silver continue to dance to elevated inflation fears created by oil prices remaining elevated as the Strait of Hormuz remains largely closed.
Precious metals have made plenty of headlines in 2026 but ironically here we are in mid-March and silver is only marginally higher year-to-date, trading more than 35% below its panic January high. The silver market is fascinating here; fundamentals look good, but the market’s long, and from bad levels in many cases. The ideal technical set-up would be a washout spike down towards $US60 before reversing higher, generating an excellent risk/reward buying opportunity in the process.
Hi! have a question about gold and silver ETF’s. There is a lot of talk about paper gold and silver certificates far exceeding physical gold and silver. Also there seems to be a huge variation between Asian and western gold and silver prices. So how safe are the ETF’s. ETPMAG for example on their web site say it is backed by physical silver held at J P Morgan. Sounds safe. But then u hear that J P Morgan have issued far more certificates than they have in Physical silver?? Are these ETF’s more a trading tool rather than security for financial downturns? Keep up the good work Tom
Rate cut bets increased last week following the soft US CPI, pushing precious metals higher as would be expected. Silver is not for the fainthearted but after holding around $US70/oz we can see it anchoring onto rate cut hopes and pushing higher in the coming weeks – it’s a similar picture for gold.
After a record-breaking rally that looked to have gone too far, too fast, the metal has suffered a brutal reversal, plunging more than a third from its late-January all-time high after enduring its largest ever one-day collapse last week. Yesterday saw silver plunge over 16% in just over an hour when many Australians were enjoying lunch, blink and you missed it! The precious metal didn’t break last week’s panic low, but it’s a brave trader who bets against it at least testing below $US70 in the coming weeks.
Not an ETF per se, but after yesterday’s savage retreat by silver, we felt it warranted a mention. The ETPMAG is an ASX-listed commodity product that gives investors direct exposure to the spot price of silver, but it is structured differently from a typical ETF.
