Silver is oversold and at a support level near to its rising 200-day moving average. A couple of bullish-looking candles formed over the past couple of days, suggesting silver is about to turn higher.
If silver were to rise to $30 oz. it would still be six dollars cheaper than its 1980 peak. In real/inflation-adjusted terms, silver at $30 oz. would still be eighty percent lower than its 1980 peak ($140 oz).
Solar is still a small part of overall silver demand, but it is growing. It is forecast to make up 14% of consumption this year, up from around 5% in 2014, according to a report from The Silver Institute, an industry association.
