Jul 30, 2020, 6:28 PM ETInterview

Commodities Update: Silver Steps Out of Gold’s Shadow

U.S. oil demand may deteriorate if a second wave occurs, while long-term production is projected to decline due to reduced capital expenditures and a lack of new growth from producers.
OPEC intends to limit future market flooding, whereas the U.S. gold price target has been raised with expectations for further upside.
The gold-to-silver ratio, which peaked at 120 in May, has recently compressed to approximately 80; the gold market remains eight times larger than the silver market.
Silver outlook is supported by 50 percent of its production being in the Americas, half of its usage being industrial, and anticipated political support for solar subsidies, creating a bullish supply-demand dynamic.