Silver's bull case is quietly building on the physical side of the market.
A recently published research view argues that silver is set up for a sharp repricing higher over the next 12–18 months, anchored in fundamentals rather than sentiment. The core thread: official statistics show a widening supply deficit, while demand — especially routed through China's Shanghai gold and futures exchanges — keeps running hot.
The same analysis contends that heavy intervention in futures markets has kept prices capped well below what the physical picture would justify, but sees that suppression as unsustainable. Once physical demand overwhelms paper positioning, the argument goes, the move higher could be abrupt.
It's also framed as a broader monetary story. The thesis ties silver's upside to eroding confidence in fiat currencies, with the published view expecting precious metals broadly to trade "far higher" within roughly 18 months as that trust deficit compounds.
Worth noting: this is one strategic call, not consensus.