Silver posted impressive 10% returns in June 2024, outperforming stock and bond markets in Japan, Europe, and the U.S. Historical data suggests this momentum could continue, as July has been silver’s strongest month over the past decade.
Two key factors are driving silver’s gains: First, with gold up 43% over the past year, investors are turning to silver as an alternative precious metal. Second, industrial demand is growing from solar panels and semiconductors, especially with the AI boom.
For investors interested in silver exposure, the iShares Silver Trust ETF offers the most liquid option with $17 billion in physical silver holdings. Over the past 10 years, this ETF has averaged 4.5% gains in July – its best monthly performance. However, success isn’t guaranteed: silver has risen in only 6 of the past 10 Julys, with a notable 6.3% loss in 2015.